In Making Choices About the Systems We Build and Use

question 87

Multiple Choice

In making choices about the systems we build and use, we are often guided by ___________, audit and control principles, or alignment principles.

• A) costs
• B) laws
• C) research
• D) popular opinion
• E) ethics

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Definitions:

General Partners

Individuals in a partnership who have full liability for the debts of the partnership and take part in managing the business.

Conversion Clause

A provision in a contract or policy allowing for the change of one form of benefit or contract to another, such as converting from a term to a whole life insurance policy.

Fiduciary Duty

The obligation to act in the best interest of another party, such as a trustee's duty towards the beneficiaries of the trust.

ULPA of 2001

The Uniform Limited Partnership Act of 2001 is legislation that provides updated guidelines and regulations for the formation, operation, and dissolution of limited partnerships in the United States.