What business practice is indicated when an owner separates roles like project management and client acquisition?

The practice indicated by separating roles such as project management and client acquisition is referred to as the separation of duties. This approach is crucial in business operations because it delineates responsibilities among team members, which can enhance efficiency and accountability. By not allowing a single person to handle multiple critical functions, the business can minimize risk and improve oversight. This segregation of roles can prevent errors and fraud, as it establishes checks and balances within the organization.

In contrast to the correct answer, outsourcing involves transferring specific tasks or responsibilities to external parties rather than creating internal separation of roles. Task delegation may imply assigning specific tasks to others but does not necessarily mean a formal separation of critical business functions for accountability. Cross-training focuses on training employees to perform multiple roles to increase flexibility and versatility within the workforce, rather than separating distinct duties to enhance procedural integrity.