Final answer:
Executive management indeed has ultimate responsibility for managing a health facility's resources, which makes the statement true. Similar governance applies in other contexts, such as proprietary colonies. The management's roles include strategic oversight and ensuring effective use of assets.
Step-by-step explanation:
The statement that executive management of a hospital or other health facility bears the ultimate responsibility as guardians of the organization's resources is True. In any organization, including health facilities, the executive management team is responsible for the strategic direction and stewardship of the organization's resources.
This ensures that the institution's services are delivered effectively and efficiently, while maintaining fiscal responsibility. Similarly, in a proprietary colony, it would be false to say the Proprietors have no responsibilities except to collect the profits, as they also have a duty to govern and manage the colony's affairs.
This is comparable to how the board of directors in a company works to ensure that the firm is run in the interests of the true owners - the shareholders. However, top executives often have significant influence in nominating board members, which can affect the governance of the firm.