The expectation of a fair exchange of employment obligations between an employee and employer is called the psychological contract.
<h3>What is
the psychological contract?</h3>
- A psychological contract, a concept developed in contemporary research by organizational scholar Denise Rousseau, represents an employer's and an employee's mutual beliefs, perceptions, and informal obligations.
- It establishes the dynamics of the relationship and defines the specifics of the work to be done.
- It differs from the formal written employment contract, which, for the most part, only identifies mutual duties and responsibilities in broad strokes.
- The psychological contract refers to the expectation of a fair exchange of employment obligations between an employee and an employer.
- A psychological contract is defined as a philosophy rather than a formula or predetermined plan.
- Characteristics of a psychological contract include respect, compassion, objectivity, and trust.
Therefore, the expectation of a fair exchange of employment obligations between an employee and employer is called the psychological contract.
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Answer:
Controlling
Explanation:
Controlling is among the major functions of management. As a management function, controlling means taking measures to ensure subordinates are working according to plan. It is verifying that all activities are in line with the given instructions and guidelines. Controlling ensures the business is on the right path to achieving its objectives.
Management has to control how the organization’s resources are used. They have to ensure effective & efficient use of resources to achieve predetermined goals.
Answer:
Date Account title Debit Credit
July 1 Bonds Payable $220,000
Premium on Bonds Payable $8,200
Cash $224,400
Gain on retirement of bond $3,800
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<u>Working:</u>
Premium = Carrying value - Par value
= 228,200 - 220,000
= $8,200
Gain on retirement of bond = Carrying amount - Amount paid:
= 228,200 - 224,400
= $3,800
Answer:
a. 12 times
b. 30.42 days
Explanation:
Data provided in the question
Sales = $4,560,000
Average account receivable = $380,000
So, The computation is shown below:
a. Account receivable turnover ratio is
= Sales ÷ average account receivable (net)
= $4,560,000 ÷ $380,000
= 12 times
b. Now the number of days sales in receivable is
= Total number of days in a year ÷ account receivable turnover ratio
= 365 days ÷ 12 times
= 30.42 days
Answer:
(1) the demand (D) for X will increase
(2) the equilibrium price (P) of X will Increase (Depending on a shift in the Demand curve)
(3) the equilibrium quantity (Q) of X. will Increase (Depending on a shift in the Demand curve)
Explanation:
Consumer expectations that the price of X will rise sharply in the future will:
1. Trigger <u>the demand for X to increase</u> because it is clear that the price of a good affects the demand, and also true that expectations about the future price do affect demand. For example, if people hear that the product X will be more expensive tomorrow, they may rush to the store to buy X now, and hold off buying tomorrow or else they will spend more money. This is a movement along the demand curve.
2. Cause a Possible Increase in Equilibrium Price: Given that as stated in 3 below, the consumers are willing to buy more at a price higher than the current price but not as high as the expected increase in price, <u>such will not only cause a shift along the demand curve but it will cause a shift of the demand curve outwards and establish a new equilibrium price.</u>
3. Make the Equilibrium quantity of X to increase: Consumer expectations is a strong determinant of quantity demanded and <u>if price is expected to increase and customers are moved to buy more as a precaution, they may be willing to buy more at a higher price if that price is not as high as the price increase expected; this will put pressure on the demand curve and cause it to shift outwards, thereby establishing a new and higher equilibrium quantity.</u>
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