A Small Business Owner Should Be Diligent in Documenting the Performance

question 41

True/False

A small business owner should be diligent in documenting the performance of employees over time.This helps the owner to terminate an employee for poor performance and also efficiently handle any legal issues that may arise.

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Definitions:

Accession

The addition of value to personal property by the use of labor or materials.

Title

A formal document or designation indicating ownership of property or the right to claim something.

Personal Property

Assets that are movable and not fixed permanently to one location, such as furniture, vehicles, and stocks, as opposed to real estate or land.

Ownership Rights

Legal rights and claims that one has over property or assets, allowing them to use, manage, and dispose of them as they see fit.