Some Small Businesses May Stick with the Very Simple Organizational

question 22

True/False

Some small businesses may stick with the very simple organizational structures because they are not interested in growing to the point where more complicated structures are required.

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Definitions:

Promisor

The individual or party that makes a promise or commitment in a contract.

Benefiting Party

Refers to the individual or entity who receives advantage or profit from a legal agreement or act.

Promised

A declaration or assurance that one will do a particular thing or that guarantees a certain outcome or condition.

Assignee

A person or entity to whom rights or interests are transferred by another, the assignor.