Creating a Blueprint by Looking at the Paths Taken by Organizations

question 113

Multiple Choice

Creating a blueprint by looking at the paths taken by organizations similar to the one whose plan you are developing is known as ____.

• A) benchmarking
• B) best practices
• C) baselining
• D) standards of due care

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Definitions:

Creditor/Debtor

A relationship where one party (the creditor) lends money or extends credit, and the other party (the debtor) owes the money.

Articles of Incorporation

Legal documents filed with a governmental body to legally document the creation of a corporation.

Corporation

A legal entity recognized by law as separate from its owners, capable of owning property, entering contracts, and being sued.

Par-value Share

A type of share that has a face value or nominal value assigned to it, which is the minimum price at which the shares can be issued.