Systematic Management Emerged as Way to Deal with the Problems

question 47

Multiple Choice

Systematic management emerged as way to deal with the problems associated with

• A)coordinating increasingly complex and geographically dispersed businesses.
• B)price competition.
• C)relying on standard written procedures rather than the habits,talents,knowledge,and personal connections of individual employees.
• D)antiquated accounting practices.

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Definitions:

Legal Entities

Organizations that have legal rights and obligations, including the ability to enter into contracts and own property.

Corporate Liability

The legal responsibility of a corporation for the actions of its directors, officers, employees, and agents, including debts and legal violations.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, giving them certain rights and interests in the company.

Double Taxation

A situation where the same income is taxed twice, often referring to corporate profits taxed at both the company and shareholder levels when dividends are distributed.