Which of the Following Statements Defines an Organization's Fundamental Purpose

question 23

Multiple Choice

Which of the following statements defines an organization's fundamental purpose for existing?

• A)Mission statement
• B)Vision statement
• C)Design statement
• D)Structured statement

---

Definitions:

Disclosure Statement

A document that provides essential information about a financial product, investment, or business opportunity.

Actual Mileage

The real distance that a vehicle has traveled, as opposed to the distance indicated by an odometer, which can be inaccurate or tampered with.

APR

APR, or Annual Percentage Rate, measures the cost to borrow money on an annual basis, including interest and additional fees.

Negative Option Rule

The Negative Option Rule is a regulation by the Federal Trade Commission that requires sellers to provide clear disclosure of and obtain consent for charges where the customer's silence or failure to reject goods or services is interpreted as acceptance.