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How Many of the Following Decisions Would Be Made by External

question 36

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How many of the following decisions would be made by external as opposed to internal decision-makers? Investing funds in the business,assessing an application for a loan,expanding the product range,hiring staff.


Definitions:

Ratify

To officially approve or confirm, often used in the context of validating agreements or contracts.

Actual Authority

The power that an agent or representative has been formally given by a principal to conduct specific acts.

Apparent Authority

Apparent Authority deals with the perception by a third party that an agent has the power and authority to act on behalf of the principal, even if such authority hasn't been explicitly granted.

Time

In a general sense, it refers to the continued sequence of existence and events occurring in an irreversible succession from the past, through the present, to the future.

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