Which Form of Control Would You MOST Likely Find in a Voluntary

question 13

Multiple Choice

Which form of control would you MOST likely find in a voluntary or charity organization?

• A) Bureaucratic control through rules and procedures
• B) Control through norms and values
• C) Financial control through accurate financial statements
• D) Output control, since it is the cheapest
• E) Incentive systems to motivate employees

Identify the types of authority agents can hold and the implications of each for contractual and legal relationships.

Recognize the fiduciary duties agents owe to principals and the consequences of breaches of these duties.

Describe the legal remedies available to parties within an agency relationship when contractual obligations are not met.

Examine the principles of liability, including tort and contract liability, within the context of agency relationships.

---

Definitions:

Net Present Value

A calculation that determines the value of a series of future cash flows in today's dollars, taking into account the time value of money.

Automated Equipment

Equipment that operates with minimal human intervention, using technology to perform tasks that would otherwise require manual effort.

Attractive Investment

An investment that is appealing due to its potential for favorable returns or its alignment with investment criteria.

Simple Rate

A basic method for calculating interest or return, often expressed as a percentage over a period of time.