An Organization's Core Values Are Most Effective When Communicated to and Supported

question 67

Multiple Choice

An organization's core values are most effective when communicated to and supported by

• A) competitors.
• B) top management and employees.
• C) suppliers.
• D) resellers.
• E) government regulators.

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Definitions:

Limited Liability

A legal structure that limits the financial liability of the owners of a business to their investment in the company.

Indefinite Business Life

A term indicating that a company or asset is expected to operate or remain useful without a foreseeable limit or end date.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders. It can own assets, incur liabilities, and is subject to taxation.

International Financial Reporting Standards

A set of globally accepted accounting principles and standards that guide the preparation of financial statements.