Answer: B. Jean
Explanation:
Having Absolute Advantage in the production of a good means that you can produce more of that good given the same resources or at least the same Quantity as others given lower resources.
From the scenario above therefore, Jean has the Absolute Advantage in producing Cakes as Jean can bake 12 cakes in an hour while Vincent can only bake 10.
Answer:
The 50.30 days are required to take its credit customers to pay for their purchases.
Explanation:
For computing the average collection period, we have to use the formula of the average collection period.
Average collection period = Average accounts receivable ÷ Credit sales × total number of days in a year
= $107,900 ÷ $783,000 × 365
= 0.13780 × 365
= 50.30 days
We assume 365 days in a year
The cost of goods sold is irrelevant. Thus, it is not considered in the computation part.
Hence, 50.30 days are required to take its credit customers to pay for their purchases.
The correct answer is D) maintain a uniform level of required resources.
The start of noncritical activities is delayed beyond their earliest start times (but not beyond their latest start times) in order to maintain a uniform level of required resources.
That is why companies have to establish their priorities and identify the main activities that must be accomplished on time, the people responsible to accomplish the activity, and the resources needed to successfully do so. Noncritical activities can be delayed up to a point, but the critical activities have to be followed according to the schedule.
Answer:
To be most effective, a Code of Ethics must be drafted in a positive actions or results-based approach.
Explanation:
A code of ethics can be defined as a document with several guidelines that guide people as to their ideal postures and attitudes, morally accepted or tolerated by society as a whole, framing the participants to a politically correct conduct and in line with good image that the entity or profession wants to occupy, including encouraging the voluntariness and humanization of these people and that, in view of the creation of some professional activities, is drafted, analyzed and approved by its competent class entity, organization or government, in accordance with with the attributions of the activity performed, so that it will suit the interests, struggles or desires of the community benefited by the services that will be offered by the professional on whom the code has an effect.
As such, a code of ethics sets standards that regulate the behavior of people within a company or organization. Although ethics are not coercive (they do not imply legal penalties), the code of ethics presupposes internal rules that are mandatory.
