Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Authority is shared between two supervisors in which of the following types of business structures?

Functional organization

Sole proprietorship

Matrix organization

Divisional organization

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Verified step by step guidance

Understand the concept of business structures: Business structures define how authority, responsibilities, and communication are organized within a company. Common types include functional, sole proprietorship, matrix, and divisional organizations.

Review the characteristics of a matrix organization: In a matrix organization, authority is shared between two or more supervisors, typically combining functional and project-based management. Employees report to multiple managers depending on their role and tasks.

Compare the matrix organization to other structures: Functional organizations have a hierarchical structure with clear lines of authority within departments. Sole proprietorships are owned and managed by a single individual, with no shared authority. Divisional organizations group activities based on products, services, or geographic regions, with authority typically centralized within each division.

Identify the key feature of shared authority: The matrix organization is unique in its dual reporting structure, where employees may report to both a functional manager and a project manager, enabling collaboration across departments.

Conclude that the correct answer is matrix organization: Based on the shared authority characteristic, the matrix organization is the business structure where authority is shared between two supervisors.