Legitimacy Is Defined as the Extent to Which Your Authority

question 188

True/False

Legitimacy is defined as the extent to which your authority is accepted on grounds of competence,vision,or other qualities.

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Definitions:

Preference Shares

Shares of a company's stock with dividends that are paid out to shareholders before common stock dividends are issued.

Common Shares

Equity securities that represent ownership in a corporation, providing voting rights and a share in the company's profits through dividends.

Doctrine of Ultra Vires

A legal principle stating that acts done beyond the scope of power of a corporation or governmental entity are invalid or void.

Corporate Law

The body of laws, regulations, and practices that govern the formation and operation of corporations.