Some Jurisdictions Consider Managers Liable Only If They Exceed Their

question 37

Multiple Choice

Some jurisdictions consider managers liable only if they exceed their authority and the violation results in negligent or intentional conduct.This duty is referred to as the duty of:

• A)diligence.
• B)loyalty.
• C)care.
• D)obedience.

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Definitions:

Prime Exporter

A country or firm that is the leading seller of goods or services to foreign countries, thereby holding a significant share of international trade in certain commodities or products.

Trade Surplus

A situation where a country exports more goods and services than it imports, leading to a positive balance of trade.

Tariffs

Taxes imposed on imported goods, often used to protect domestic industries from foreign competition.

Fair Trade

A social movement and market-based approach that aims to help producers in developing countries achieve better trading conditions and promote sustainability.