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The benefit of standardizing futures contracts is increased liquidity because all traders must trade a small number of similar contracts.
For the purpose of facilitating trading on a futures market, futures contracts are standardized for both quality and quantity. When purchasing a futures contract, the buyer assumes the responsibility for purchasing and receiving the underlying asset upon contract expiration.
The final trading day of a futures contract is known as expiration. Final settlement and delivery of a futures contract are carried out in accordance with the guidelines outlined by the exchange in the contract specifications document after the contract has expired.
In order to meet its short-term obligations or liabilities, a corporation must have the capacity to convert its assets into cash.
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<u>Management by objective (MBO)</u> is a system of goal setting and implementation that involves a cycle of discussion, review, and evaluation of objectives among top and middle managers, supervisors, and employees.
<u>Explanation</u>:
The concept of management by objective was first introduced by Peter Drucker in the year 1954. MBO helps in defining specific objectives within the organization. The objectives are made by the management and conveyed to the supervisors and employees of the organization.
MBO concept involves six steps. First of all the organizational goals and objectives of the employees are determined. As a next step, the performance of the employees is constantly monitored. The managers then involve in evaluating the performance of the employees. As a final step, the management provides feedback and performance appraisal.
<span>Autonomous agencies affiliated with the UN, but not under its control, include the</span> World Health Organization, the Food and Agriculture Organization, and the UN Educational, Scientficic, and Cultural Organizations.
Autonomous agencies refer to the ones which are independent in their working, not controlled by others.
To cut the supplies they needed
