One May Become Liable Through Ratification for an Unauthorized Act

question 49

True/False

One may become liable through ratification for an unauthorized act that was done by an agent.

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Definitions:

Management Overhead

Represents the costs associated with administrative and management functions that are not directly related to production or service delivery.

Tall Structure

An organization structure that has narrow spans of control and many hierarchical levels.

Wider Spans of Control

Refers to a leadership approach where a single manager or supervisor oversees a larger number of subordinates, indicating a flatter organizational structure.

Management Costs

Expenses associated with directing and controlling a business or organization.