Answer:
b. the average number of days to collect receivables is 64.
Explanation:
Average number of days to collect receivables = Accounts Receivable ÷ ( Sales / 365)
= $46,000 ÷ ($266,000 / 365)
= 63.10 or 64
Conclusion
The average number of days to collect receivables is 64
Answer:
Relative responsiveness of consumer to change in price is called elasticity of demand.
Elasticity of demand here is 7.
Demand is highly elastic.
Cutting the price from $1.25 to $0.75, total revenue remains same as the elasticity of demand does not change.
Explanation:
Percentage change in quantity demanded due to percentage change in price.
Elasticity of demand=% change in quantity demanded/percentage change in price.
Small change in price caused a huge change in quantity demanded.
The concept that best describes Jill's action of contacting only the first three suppliers instead of calling all eight suppliers is <u>A) cognitive limitations.</u>
<h3>What are cognitive limitations?</h3>
Cognitive limitations are the human and information processing restrictions imposed on decision-making. The originate from the limited human cognitive nature and information processing abilities. Cognitive limitations lead to probability distortions. They cause errors in decision-making.
The implication of Jill's action is that she might be making the wrong decisions.
<h3>Answer Options:</h3>
A) cognitive limitations.
B) optimal decision making.
C) the illusion of control.
D) escalating commitment.
Thus, the concept that best describes Jill's action of contacting only the first three suppliers instead of calling all eight suppliers is <u>Option A</u>.
Learn more about cognitive limitations at brainly.com/question/13649097
Answer: C. . the efforts of a company's whole management team, not just a few senior managers
Explanation:
Planning, implementing and carrying out strategies requires a careful, collective and calculative decision to be made by all head of department and the board of an organization, because the decision taken will rub off through these departments for implementation. The decision or choice of decision should not be left to a few persons in the organization because when the ideas and plans are arranged the execution may fail as all the respective department were not involved by their heads.
Answer:
This question highlight regarding finding out the Flow time which were given as - Inventory / Time.
The repair shop is now dedicates that one elevator for routine and one for key. Now compute the Flow time for both cases.
Case 1: - For Routine Repairs: -
Inventory = 5
Time = 3 per hour.
Therefore, the Flow Time = Inventory / Time = 5/3 = 1.67 hours
Thus, the cars wait time at an average of 1.67 hrs. before being served at routine repairs.
Case 2: - For Major Repairs: -
Inventory = 3
Time = 1 per hour.
Therefore, Flow Time = Inventory / Time = 3/1 = 3 hours
Thus, the cars wait time at an average of 3 hrs. before being served at major repairs.
