Answer:
Both steps give candidates a realistic preview of the job.
Explanation:
The purpose of both steps is to provide potential candidates a realistic and practical preview of the job opening. In the first step Scott does most of the talking, that means that he probably explains in detail how the restaurant works. On the second step, the candidates are taken to the restaurant to be able to see by themselves how it really is to work there.
This hiring approach increases commitment on the candidates and it provides them with a realistic job expectation about what Scott and the other employees expect them to do.
Answer:
(B) If the explicit cost for the consulting job is $25,000 per year, your economic profit is equal to $45000.
Explanation:
Economic profit is obtained by substracting explicit (monetary) costs, and implicit (opportunity) costs, from total earnings.
In this case, the earnings for working as an economic consultant are $100,000. The implicit, opportunity cost is the $30,000 that are given up because of quitting the serving job. If the explicit cost of renting an office, purchasing supplies and buying a computer is $25,000, then, we have the following equation:
Economic profit = earnings - explicit costs - implicit costs
= $100,000 - $25,000 - $30,000
= $45,000
Answer: Discretion
Explanation: In simple words, discretion refers to the freedom that an individual get to make decisions that might affect him or her. In business sense, it refers to the freedom of performing the job without any monitoring or interfere from the seniors.
In the given case, the company did not interfere with the job of Herb and followed his instructions even though it sounded crazy at first.
Hence we can conclude that the leadership gave herb high degree of discretion.
Operations, Investing and Financing are the three activities according to which a statement of cash flows is organized.
Cash flow refers to the net balance of cash moving into and out of a business at a specific point in time. Cash is consistently moving into and out of a business.
For example- When a retailer purchases inventory, money flows out of the business toward their suppliers.
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