The Line of Authority That Extends from the Upper Levels

question 94

Multiple Choice

The line of authority that extends from the upper levels of management to the lowest levels of the organization is called the ________.

• A) chain of command
• B) authorized line of responsibility
• C) unity of command
• D) responsibility factor

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Definitions:

Extinguishing

The act of putting an end to something, such as extinguishing a debt, a legal obligation, or a fire.

Dissolution

Dissolution is the process of formally ending the existence of a legal entity such as a company or partnership.

Winding Up

The process of dissolving a company by selling its assets, paying off creditors, and distributing the remaining assets to shareholders.

Liquidation

The process of closing a business and distributing its assets to claimants.