parity of responsibility and authority definition
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- 8 An important principle of organization as well as management is that authority should equal responsibility. This principle is known as the parity of authority and responsibility and ensures that work will be performed with a minimum amount of frustration on the part of personnel.
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Managerial Accounting Chapter 10 Responsibility accounting. A part of management accounting that involves accumulating and reporting revenues and costs on the basis of the manager who has the authority to make the day-to-day decisions about the items. Responsibility reporting system.
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mutuality of obligation - Legal Definition mutuality of obligation - Legal Definition. The consent by both parties to a contract to pay, yield, or give up something in return for the benefits received. Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey.
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- n. pl. par·i·ties. 1  1. Equality, as in amount, status, or value. 2  2. Functional equivalence, as in the weaponry or military strength of adversaries: A problem that has troubled the U.S.-Soviet relationship from the beginning has been the issue of parity (Charles William Maynes).
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- ♦ Legitimate power is based on subordinate’s perception that the leader has a right to exercise influence because of holding a particular position in the hierarchy of organizational structure. Legitimate power is thus based on authority and not on the nature of personal relationship with others.
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Apparent Authority Law and Legal Definition Apparent Authority Law and Legal Definition. Apparent authority is a concept used in agency law that refers to the situation that arises when a principal, such as a corporation, indicates to a third party that an officer or agent is authorized to act on its behalf and the third party relies in good faith upon such authority.
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authority authority. n, pl-ties. 1. the power or right to control, judge, or prohibit the actions of others. 2. (often plural) a person or group of people having this power, such as a government, police force, etc. 3. a position that commands such a power or right (often in the phrase in authority). 4. such a power or right delegated, esp from one person to another; authorization: she has his authority. 5. the ability to influence or control others: a man of authority.
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- Purchasing power parity (PPP) is an economic theory that states that the exchange rate between two currencies is equal to the ratio of the currencies' respective purchasing power.
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Purchasing power parity The purchasing power parity theory states that the exchange rate between one currency and another currency is in equilibrium when their domestic purchasing powers at that rate of exchange are equivalent.
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CDs - Which are the best? CD Rates Advice. 1  Best 3-year CD rates pay up to 1.71% nationally The best nationally available 36-month CD rate is 1.70% APY, and there are lots of local deals on these popular certificates of deposit that pay as much as 2.33%. Don't settle for less when investing your money.
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- The person having this obligation may or may not have actual possession of the property, documents, or funds. Accountability is concerned primarily with records, while responsibility is concerned primarily with custody, care, and safekeeping.
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- The purchasing power parity theory states that the exchange rate between one currency and another currency is in equlibirium when their domestic purchasing powers at that rate of exchange are equivalent.he best-known purchasing power adjustment is the Geary–Khamis dollar (the international dollar). The real exchange rate is then equal to the nominal exchange rate, adjusted for differences in price levels.
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- Balance of power The phrase balance of power expresses parity or stability between competing forces. As a term in international law for a just equilibrium between the members of the family of nations it expresses the doctrine intended to prevent any one state from becoming sufficiently strong to enforce its will upon the rest.
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The Key Advantages and Disadvantages of Delegation of Authority The Key Advantages and Disadvantages of Delegation of Authority. Delegation of authority refers to the transfer of power. While some managers may be wary of it, it has its own advantages. Here, we present the pros and cons of delegating authority. Delegation of power/authority is not an easy thing to do. It involves risk.
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Parens patriae Parens patriae. Parens patriae is Latin for parent of the nation (lit., parent of the fatherland). In law, it refers to the public policy power of the state to intervene against an abusive or negligent parent, legal guardian or informal caretaker, and to act as the parent of any child or individual who is in need of protection.
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- The goals and objectives of a statutory authority are typically set out in the originating act or in subsequent governmental guidance or instruction. Its senior management are chosen by the relevant government (State or Federal) and will work closely with its associated ministry or ministries.
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parens patriae [Latin, Parent of the country.] A doctrine that grants the inherent power and authority of the state to protect persons who are legally unable to act on their own behalf. The parens patriae doctrine has its roots in English Common Law.he king exercised these functions in his role of father of the country. In the United States, the parens patriae doctrine has had its greatest application in the treatment of children, mentally ill persons, and other individuals who are legally incompetent to manage their affairs.
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- . Political authority is governmental power, the formal-legal authority of the public officeholders and institutions comprising the government to make and carry out decisions on public policy--to adopt and implement the authoritative decisions that have the force of law and are binding on all members of the society.
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With Great Power Comes Great Responsibility Dear Quote Investigator: There is a popular saying about the relationship between ascendancy and obligation: With great power comes great responsibility. This expression has been attributed to two very different sources: Voltaire and the Spider-Man comic book. Would you please examine its provenance?
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parity par·i·ty 1. 1. Equality, as in amount, status, or value. 2. Functional equivalence, as in the weaponry or military strength of adversaries: A problem that has troubled the U.S.-Soviet relationship from the beginning has been the issue of parity (Charles William Maynes).
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delegation Popular Terms. 1  1. General: Grant of authority by one party (the delegator) to another (the delgatee) for agreed purpose(s). Under the legal concept of vicarious liability, the delegator remains responsible for the delegatee's acts or omissions in carrying out the purpose of the delegation.
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Purchasing power parity Purchasing power parity is an economic theory that states that the exchange rate between two currencies is equal to the ratio of the currencies' respective purchasing power. Theories that invoke purchasing power parity assume that in some circumstances it would cost exactly the same number of, for example, US dollars to buy euros and then to use the difference in value to buy a market basket of goods as it would cost to directly purchase the market basket of goods with dollars. A fall in either
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MANAGEMENT INNOVATIONS TYPES OF AUTHORITY: 3 main types of authority can exist within an organization: Line Authority; Staff Authority; Functional Authority; Each type exists only to enable individuals to carry out the different types of responsibilities with which they have been charged. LINE AUTHORITY:
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Ronald Heifetz* on leadership â Part II: the difference between power, authority and leadership Authority is a must in each social organisation. It can be observed in human team work, at children play grounds and within gorilla bands. Authority can be formal or informal. The power to influence is the resource for authority and for leadership.
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- DEFINITION of 'Purchasing Power Parity-PPP'. An economic theory that estimates the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to each currency's purchasing power.
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DOWNLOADED FROM The obligation of any individual who, in the performance of the duties of his/her position, designation, or assignment, is required to assume custody or control over, and upon proper occasion, effect an accounting for government property committed to his/her charge by reason of this position, designation, or assignment.