A _____ Communicates Broad Guidelines for Making Decisions and Taking

question 69

Multiple Choice

A _____ communicates broad guidelines for making decisions and taking action in specific circumstances.

• A) vision
• B) procedure
• C) policy
• D) tactical plan
• E) budget

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Definitions:

Corporation

A legal entity that is separate from its owners, providing limited liability, and is able to own property, incur debt, sue and be sued.

General Partner

An owner of a partnership who is responsible for its operations and is liable for its debts without limitation.

Shareholder

An individual or organization that owns at least one share of a company's stock, making them a part owner of that company.

Unincorporated

Refers to a business or organization that hasn't been legally established as a corporate entity, and thus, its owners bear personal liability for its debts and actions.