When Constructing a Responsibility Matrix or "RACI" Chart,it Is Important

question 12

True/False

When constructing a responsibility matrix or "RACI" chart,it is important to ensure that only one person has primary responsibility for any activity.

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Definitions:

Corporate Regulation

Rules or laws designed to control or govern the conduct of corporations and ensure they operate within legal and ethical bounds.

Business Trust

A form of business organization managed by trustees for the benefit of its beneficiaries, offering benefits like reduced taxation and liability protection.

Limited Liability Company

A company formation that merges the direct tax obligations of a partnership or a sole proprietorship with the protection against personal liability offered by a corporation.

Ease of Formation

The relative simplicity and lack of complication in legally establishing a new business or company.