Steve Leads the Administrative Department of Mayo Pvt

question 8

Multiple Choice

Steve leads the administrative department of Mayo Pvt. Ltd. He encourages people to perform to their maximum potential by providing support and regular feedback. He ensures that the opinions of his team members are considered before a decision is made. He does not believe in rigidity and inviolate procedures. In the context of the given scenario, Steve holds that:

• A) wealthy employees should be given more power.
• B) people at the bottom of the organizational hierarchy should have no power.
• C) human capital is more important than financial capital.
• D) tangible assets form the financial basis of today's economy.

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Definitions:

Liquidation Process

The procedure of winding up a company's operations, selling off its assets, and distributing the proceeds to creditors and shareholders.

Frequent Reporting

The practice of regularly submitting business performance reports more often than the standard annual reporting.

Dissolution

The process of legally dissolving a corporation or partnership, resulting in the termination of its business operations.

Safe Payments

Payments that are secure and protected against fraud or theft, often through encryption and authentication measures.