Answer:
Option (D) is correct.
Explanation:
We know that there is a inverse relationship between the price of a good and its quantity demanded.
Relative inelastic demand refers to the demand where percentage change in the quantity demanded is relatively smaller than the percentage change in price of the good.
Relative inelastic demand curve is a demand curve which is relatively steeper in shape but not perfectly inelastic or vertical.
Answer:
The correct answer is D) Top management
Explanation:
Top management, as the name implies, consists of those who are at the highest point in the management hierarchy. The most common positions that are part of top managament are, Chief Executive Officer (CEO), Chief Financial Officer (CFO), and Chief Strategist Officer (CSO). They are usually part of the Board of Directors, which answers to the shareholders.
Their task is, as the question specifies, to define the general policy of the company, including goals and strategies to achieve those goals. In a way, companies are just like nations, they have top executives like the president or the president of the senate, who define the direction in which the company/country will go.
Answer:
Firm’s sales uncollected for year is 42 days.
Explanation:
Account receivable turnover ratio = $621,000 / $70,422
Account receivable turnover ratio = 8.69
Thus, accounts receivable turnover ratio is 8.69
Average collection period = 365 / Account receivable turnover ratio
Average collection period = 365 days / 8.69
Average collection period = 42.00
Thus, firm’s sales uncollected for year is 42 days.
Answer: Option B
Explanation: In simple words, positive reinforcement means motivating someone to perform a job more efficiently and frequently by offering them some reward for doing so. While punishment refers to penalizing someone for any offense.
In the given case, James has been offering the incentives to his employees but have also made a clause to withhold them in case of unprofessional behavior.
Thus, from the above we can conclude that the correct option is B .
