The Rule of Thumb in Engaging Others Is to Match

question 46

True/False

The rule of thumb in engaging others is to match the amount of responsibility given with the amount of authority provided. Though you retain ultimate accountability, you delegate prime accountability.

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Definitions:

Promoter

A person who incorporates a business, organizes its initial management, and raises its initial capital.

Preincorporation Contract

An agreement made by the incorporators or promoters of a company on behalf of the company before it has been legally formed.

Liable

Legally responsible or obligated to compensate for harm, loss, or damage caused by one's actions or omissions.

Capitalize

The accounting practice of recording a cost or expense on the balance sheet for the purposes of delaying full recognition of the expense over time through depreciation or amortization.