Examlex

Solved

Redemption Inc

question 7

Multiple Choice

Redemption Inc., an event management firm, wants to establish a social media marketing department. The management assigns one of the company's best managers to form a team of six employees and undertake a project to increase Redemption's presence on social media. The project is closed after it is successfully completed. Redemption Inc. forms a new social media marketing department with the project team members. In the context of project closure, this scenario exemplifies _____.


Definitions:

Dishonored

Refers to a financial instrument (check, promissory note) that is not accepted or paid upon presentation.

Primarily Liable

Being the first or main party responsible for fulfilling a debt or obligation.

Secondarily Liable

Pertains to a party that holds liability not as the primary party responsible but as a backup in case the primarily liable party fails to fulfill their obligations.

Personally Liable

The state of being legally responsible for debts or obligations out of personal assets, not limited to business or corporate assets.

Related Questions