Mathew, a Team Manager at Weltono Inc

question 117

Multiple Choice

Mathew, a team manager at Weltono Inc., requested the company's senior management for additional resources for a project. However, he was denied the additional resources, and as a result, the project failed. During a company gathering, a senior manager publicly attributed the failure of the project to Mathew's incompetence. He filed a suit against the company on the grounds of public defamation and won the case. The company incurred losses because it had to pay a hefty sum to Mathew as compensation. In the context of the general environment, this scenario best illustrates the effect of the _____ on organizations.

• A) technological component
• B) sociocultural component
• C) legal component
• D) geographical component

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Definitions:

Schedule of Liquidation

A detailed plan that outlines how a company will sell off its assets and pay off its liabilities before closing.

Future Events

Events that are expected to occur in the future, not yet happening at the current time.

Uniform Partnership Act

A set of laws adopted by various states in the United States to regulate the operations of partnerships.

Statement of Liquidation

A financial document outlining how assets will be liquidated to pay off creditors during a company's dissolution.