When Only One Central, Guiding Plan Is Put into Operation

question 63

Multiple Choice

When only one central, guiding plan is put into operation to achieve an organizational goal, the organization is experiencing

• A)accuracy.
• B)flexibility.
• C)unity.
• D)continuity.

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Definitions:

Effective Annual Rate

The effective annual rate (EAR) is the interest rate on a financial product restated from nominal terms into an annualized rate accounting for compounding over a period.

Loan Contract

A legally binding agreement between a borrower and a lender that outlines the terms and conditions of a loan.

Interest Payments

Regular payments made to lenders or bondholders as compensation for the use of borrowed funds, usually calculated as a percentage of the principal.

Nominal Rate

The stated interest rate of a financial product, not adjusted for inflation, which represents the rate before taking into account the compounding period.