The Following Are Differences Between the Partnering Approach and the Traditional

question 85

Multiple Choice

The following are differences between the partnering approach and the traditional approach to managing contracted relationships EXCEPT

• A) mutual trust forms in the partnering approach where suspicion and distrust are prominent in the traditional approach.
• B) contracts establish long-term commitments in the partnering approach while single project contracting is normal in the traditional approach.
• C) access to each other's organization resources is available in the partnering approach but limited in the traditional approach.
• D) risk is shared jointly among partners in a partnering approach but is transferred to the other party in the traditional approach.
• E) the partnering approach entails significant time and energy while a handshake is satisfactory in the traditional approach.

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Definitions:

Public Debt

The amount of federal securities outstanding, which represents what the federal government owes (the accumulation of federal deficits minus surpluses over the last two centuries).

GDP

Gross Domestic Product, which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Foreigners

Individuals or entities from one country that are located in or interacting with another country.

Liability

An obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer of assets, provision of services, or other yielding of economic benefits in the future.