The Right Inherent in a Managerial Position to Give Orders

question 68

Multiple Choice

The right inherent in a managerial position to give orders and expect orders to be obeyed is termed ________.

• A) chain of command
• B) authority
• C) power
• D) unity of command
• E) leadership

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Definitions:

Financial Statement

Documents that provide an overview of a company's financial condition in both short and long term, including balance sheets, income statements, and statements of cash flows.

Parenthetical Remark

An explanatory or clarifying comment inserted into the text of financial statements or reports, often provided within parentheses to supplement the main information.

Derivative Financial Instruments

Financial contracts whose value is derived from the price movements of an underlying asset, such as stocks, bonds, commodities, or currencies.

Fair Value

An estimate of the price at which an asset or liability could be exchanged between willing participants in an arm's length transaction.