Which of the following conditions must be met to form an agency?
A. An agency agreement must be in writing.
B. An agency agreement must be signed by both parties.
C. The principal must furnish legally adequate consideration for the agent's services.
D. The principal must possess contractual capacity.
Answer: D. The principal must possess contractual capacity.
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In the context of the planning process, which of the following statements is true of the step that involves monitoring and controlling performance?
A. It identifies the priorities and trade-offs among the goals and plans. B. Managers must continually monitor the performance of their work units against the unit’s goals and plans. C. It is the first step taken by managers in the planning process. D. Managers need to restart the planning process after plans are implemented improperly. E. Managers consider monitoring and controlling performance as the most important step in the planning process.
The debasement of integrity for money, position, privilege, or other self-benefit is termed as:
A. manipulation. B. exploitation. C. lobbying. D. corruption.