A Performance Gap Is When an Agency Is Performing Improperly

question 29

True/False

A performance gap is when an agency is performing improperly or below capacity and is recognized by agency executives, personnel, clients, or other constituencies.

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Definitions:

Closely Held Corporations

Corporations that have a small number of shareholders and whose shares are not publicly traded.

Business Judgment Rule

A legal principle that shields corporate directors, under certain conditions, from liability for decisions that harm the company if the decisions were made in good faith and with due diligence.

Fiduciaries

Individuals or entities that hold a legal or ethical relationship of trust with one or more parties, often in financial matters.

Shareholder Approval

A process in which shareholders vote on key corporate actions or decisions, often required for mergers, acquisitions, and other significant matters.