Which of the Following Statements Is TRUE

question 32

Multiple Choice

Which of the following statements is TRUE?

• A)Bankruptcy and insolvency is a subject within provincial jurisdiction and the individual's place of residence or business's head office will determine which province's Act applies.
• B)Bankruptcy and insolvency legislation is aimed at an orderly and fair distribution of a bankrupt's assets as well as the possibility of saving an ongoing business.
• C)Bankruptcy and insolvency legislation is aimed at giving honest but unfortunate debtors a fresh start.
• D)Both B and C
• E)All of the above

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Definitions:

Machine Bureaucracy

A highly structured, formal organization model, optimized for efficiency and characterized by a clear hierarchy, division of labor, and a focus on routine, repetitive tasks.

Simple Structure

An organizational design characterized by a low degree of departmentalization, wide spans of control, authority centralized in a single person, and little formalization.

Adhocracy

An organizational structure characterized by flexibility, employee empowerment, and an emphasis on innovation and problem-solving rather than hierarchy and strict procedures.

Globalization

The method through which companies or various entities expand their influence globally or begin to function at an international level.