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Explanation

• When a politician tacitly approves a policy, it generally means they continue the previous policy by giving silent or unexpressed consent without officially announcing it.

Meaning of Tacit Approval

• Silent agreement: They do not speak up or object to the rule.
• Going along: They let the current system stay in place without change.
• Implied support: Their lack of action shows they accept what is already happening.

Explanation

• POSDCORB explains the important functions of administrators.
• Developed by Luther Gulick and Lyndall Urwick in 1937
• The acronym outlines seven core duties of management
• Planning
• Organizing
• Staffing
• Directing
• Coordinating
• Reporting
• Budgeting

Explanation

• Federalism divides powers between different levels of government.
• The national government handles broader national matters.
• State or local governments manage matters within their jurisdiction.
• This division helps distribute administrative responsibilities.

Explanation

• In accounting, an economic event occurs when a transaction is recognized and recorded
• Because it has a measurable monetary impact on the financial position of a business, changing its assets, liabilities, or equity.
• Types of Economic Events
• External Transactions
• Internal Events

Explanation

• Management science supports decision-making.
• It uses quantitative techniques.
• It may combine management, accounting, and econometric concepts.
• It helps solve complex organizational problems.

Explanation

• PI measures investment profitability.
• PI = PV of future cash flows ÷ Initial investment.
• PI of 0.9 is less than 1.
• It generally indicates the investment is not acceptable

Explanation

• The normal balance of a liability account is a credit.
• Recorded on the credit (right) side
• Decrease (-): Recorded on the debit (left) side.
• Common Examples: Accounts payable, loans payable, and accrued expenses.

Explanation

• The natural (or normal) balance of a revenue account is a credit.
• Revenue increases with a credit.
• Revenue decreases with a debit.
• Revenue is reported on the income statement.

Explanation

•  The capital of the United States of America is Washington D.C..
• Named after: George Washington, Columbia

Additional information:

The currency of the United States of America is United States Dollar.

The official languages of the United States of America are English and; Spanish.

United States of America located is in Continent North America.

United States of America Primary Religion is Christianity.

Tricks for Remember

DOLLAR

 Li-Ne-US-Ca-Fi-T-E-A

Mind trick: Li ne(a name) who lives in US likes Coffee(Ca- Fi) and Tea(T-E-A)

**Li-Ne**

Li-Liberia

Ne-New Zealand

**US**

United States

**Ca-Fi**

Ca-Canadian

Fi- Fizzi

**T-E-A**

T-Taiwan

E-Ethiopia

A-Australia

Last verified on 23-08-2026

Explanation

• Production decision is NOT a primary responsibility of a Financial Manager.
• Financial managers mainly deal with investment, financing, and dividend decisions.
• Production decisions are generally handled by production/operations management.

Last verified on 14-08-2026