Delegation/ Assignment
Responsibility is like holding onto a task until you've done your part, and then passing it on to someone else, which is what we call "delegation." Some tasks are easy to delegate. Asking someone to deliver a package when you're out of town. But then there are jobs, like being a teacher or a judge, where you can't just hand over the responsibility to someone else—no matter how tempting it might be!
Now, let’s talk about rights. When someone is entitled to something, like the proceeds from a sale, that right can be passed along to another person, which is known as "assignment." For instance, an invoice can be assigned to a third party to collect the payment. Sometimes, there’s something gained in return for this transfer, like when a bill is discounted with a bank. So, passing on a duty is delegation; passing on a right is assignment. It’s all about who’s taking on the task!
By CA L.Muralidharan and CPA L.Mukundan
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