A Manager Used Her Position in the Company to Develop

question 26

Multiple Choice

A manager used her position in the company to develop a new business the company might have pursued on its own.This is a breach of the

• A)duty of care.
• B)duty of non-competition.
• C)duty of loyalty.
• D)duty of recognition.

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Definitions:

Financial Statements

Documents that provide an overview of a company's financial condition in both short-term and long-term contexts, including the balance sheet, income statement, and cash flow statement.

Adjustment for Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life to account for the reduction in value over time.

Balance Sheet

A financial statement that displays a company's financial position at a specific point in time, showing assets, liabilities, and equity.

Assets

Resources owned by a company that have economic value and can provide future benefits, such as cash, inventory, and property.