The owner of an asset enjoys _______ ,which are the rights to all uses of an asset in a way not consistent with a prior contract.

Question

Quizplus · Accepted Answer

Residual control rights refer to the owner's ability to exercise control over the use of an asset outside of any prior contractual agreements. This includes the ability to make decisions about the use, transfer, or disposal of the asset. Therefore, A is the correct choice. Option B, formal authority, refers to authority granted through a formal position or title within an organization. Option C, real authority, refers to the legitimate authority granted to an individual based on their role or position within an organization. Option D, the buy decision, refers to the decision to purchase goods or services from an external supplier rather than producing them internally. Option E, the make-or-buy decision, is similar to D in that it involves deciding whether to produce a good or service in-house or outsource it to an external supplier. However, neither D nor E relate directly to the rights of an asset owner.

The Owner of an Asset Enjoys _______ ,Which Are the Rights