Who is normally responsible for the authorization of investment activities? Why is the authorization normally performed at this level?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter10: Capital Budgeting: Decision Criteria And Real Option
Section: Chapter Questions
Problem 6QTD
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Who is normally responsible for the authorization of investment activities? Why is the authorization normally performed at this level?

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