When Profit-Sharing Takes a Broad View of What Needs to Be

question 54

Multiple Choice

When profit-sharing takes a broad view of what needs to be done to make the organization more effective,it may encourage

• A)individual competition.
• B)a knowledge of business.
• C)a sense of ownership.
• D)problem-solving orientation.
• E)learning and flexibility.

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Definitions:

Accord And Satisfaction

An arrangement between contracting parties whereby one of the parties substitutes a different performance for his or her original duty under the contract.

Novation

The act of replacing one obligation with another, effectively creating a new contract and releasing the original party from responsibility.

Assignment

The transfer of rights, property, or responsibilities from one party to another.

Delegation

The act of assigning responsibility or authority from one person or group to another person or group.