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What is the difference between line authority and Advisory authority?
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- Discuss the devices that make control different from ownership. What impact do differences between ownership and control have on the conflicts of interest that are likely to prevail in a corporation?What is the significance of consideration in the creation of an agency relationship?discuss.. How can managers ensure that individuals have the necessary authority to fulfill their assigned responsibilities?
- Why is it necessary for boards to delegate financial responsibilities or accountabilities? Is there a difference between responsibility and accountability in this context?3. (a) What are the roles and responsibilities of an effective and active Board of Directors? (b) Briefly discuss the agency theory and stewardship theory.How are agency relationships terminated?