A Manager Is Responsible for Achieving Organizational Objectives Through Efficient

question 80

True/False

A manager is responsible for achieving organizational objectives through efficient and effective utilization of personal ability.

Understand the legal capacity requirements for entering a contract.

Identify conditions under which contracts can be deemed void or voidable.

Comprehend the implications of a person's mental state on contract validity.

Recognize the rights and obligations of minors in contract law.

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Definitions:

Present Value

The immediate financial worth of an expected future sum of money or cash flows, discounted with a predetermined rate of return.

Insurance Settlement

The payment made by an insurance company to a policyholder or claimant as compensation for a covered loss.

Discount Rate

in finance, refers to the interest rate used in discounted cash flow (DCF) analysis to determine the present value of future cash flows.

Lump Sum

A single payment made at a particular time, as opposed to multiple payments over time.