CHECK YOUR UNDERSTANDING OF OWNERS - ANSWER
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Beneficiaries or customers are one interest group with a vested interest. Their primary interest is in the benefits that they personally will receive from the organization. Given their personal perspective as beneficiaries in the present and immediate future, they do not have the exclusive moral authority to determine the purpose of the organization.
The correct answer is:
Those on whose behalf the board determines the benefits the organization is to produce, who the beneficiaries are and what the benefits are worth.