Statement of a firm's main reason for being.
A) Owner's goal statement
B) Bylaws
C) Principles statement
D) Mission statement

Question

Quizplus · Accepted Answer

A mission statement is a concise statement that articulates an organization's reason for existence and its core goals, which is designed to focus on its employees and stakeholders. A is incorrect because it only represents the owner's goals and not the whole organization. B is incorrect because bylaws are rules governing a company's internal operations. C is incorrect because a principles statement usually outlines ethical values and beliefs rather than the main reason for the company's existence.

Statement of a Firm's Main Reason for Being