Which of the Following Is True of a Functional Structure

question 43

Multiple Choice

Which of the following is true of a functional structure?

• A) It reacts quickly to environmental changes.
• B) It diminishes economies of scale compared to the divisional structure.
• C) It often results in hierarchy overload.
• D) It cannot work in small organizations.

Understand the obligations and liability of parties involved in negotiable instruments.

Identify and differentiate between real and personal defenses applicable to negotiable instruments.

Comprehend the rights and requirements to become a holder in due course.

Recognize the impact of mental incompetence, duress, and fraud on the enforceability of negotiable instruments.

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Definitions:

Scarcity

The limited nature of society’s resources.

Trade-Offs

Situations where having more of one thing necessarily means having less of another because of limited resources.

Allocate

The process of distributing resources or goods among various uses or individuals based on specific criteria, such as need or merit.

Marginal Change

A small incremental adjustment to a plan of action.