Power Coming from a Formal Management Position in an Organization

question 92

Short Answer

Power coming from a formal management position in an organization and the authority granted to it is called _____.

Grasp the principles governing the delegation of duties and assignments of rights in contracts.

Identify the conditions under which a contract may prohibit or restrict assignments and delegations.

Understand the rights and obligations of assignors, assignees, obligors, and obligees in the context of assigned contracts.

Recognize the legal consequences of not notifying parties involved in an assignment.

---

Definitions:

Tax Bill

The amount of money owed by an individual or corporation to the taxing authorities as a result of income or other taxes.

Net Fixed Assets

The total value of a company’s fixed assets minus any accumulated depreciation.

Depreciation

An accounting method of allocating the cost of a tangible or physical asset over its useful life to account for declines in value.

Earnings Before Interest And Taxes

A gauge of corporate profit that disregards expenses related to interest and income tax.