The Process of Assigning Meaningful Authority and Responsibility to Managers

question 72

Multiple Choice

The process of assigning meaningful authority and responsibility to managers and employees lower in the hierarchy is called

• A)designation.
• B)accountability.
• C)delegation.
• D)execution.
• E)allocation.

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Definitions:

Liquidate a Partnership

The process of dissolving a partnership by selling its assets, paying off debts, and distributing the remaining assets to partners.

Capital

represents the financial resources that are used by a business to fund its operations and growth, typically including funds contributed by owners or generated through profit.

Cash

Currency and coins, along with bank balances, checks, and money orders, readily available for use in transactions.

Latent Functions

Purposes and activities that are unintended, unrecognized, and not immediately obvious.