You Are the Manager of the Marketing Department

question 44

Short Answer

You are the manager of the Marketing Department. In order to get office and art supplies, you must submit a purchase requisition. Company policy states that you can only approve up to $500, but any more must have the signature of your boss. Based on this, you are probably lacking in which of the following?
Accountability
Delegation
Span of control
Responsibility
Authority

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Definitions:

Indorsement

The act of signing the back of a financial instrument, thereby transferring ownership or validating the document.

Negotiated

Pertains to the process of discussing and reaching an agreement on the terms of a contract, settlement, or understanding between parties.

Nonnegotiable

Nonnegotiable refers to something that cannot be negotiated or altered, such as a fixed term in a contract or a financial instrument with terms that cannot be changed.

Without Recourse

This refers to a provision in an agreement that exempts the seller from liability or obligation to the buyer in case of some failure on the part of the products or services sold.