Answer:
The ability of sellers to change the amount of the good they produce.
Explanation:
Price elasticity of supply: It is an economic measure to check the responsiveness of quantity supplied to the change of price. As per the law of supply, the supply of quantity increases with the increase in the price of goods and services and vice versa. The numerical value of elasticity indicates how is the response of quantity supplied to the price of the product. As zero indicates no response to the change in price and 1 indicate a higher response to the price of the product.
The key determinant of the price elasticity of supply is how well the seller is able to change the quantity supplied as per the price in the market.
A business process reengineering involves the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times and quality.
<h3>What is a
business process reengineering?</h3>
This refers to the act of recreating a core business process with the goal of improving product output, quality or reducing costs. In most process, the process involves the analysis of company workflows, finding the processes that are sub-par or inefficient and figuring out ways to get rid of them or change them.
<h3 />
Hence, the business process reengineering involves the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times and quality.
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If a company changes an accounting principle on the last day of the 3rd quarter they need to apply a retrospective application to all pre-change interim periods reported.
<h3><u>
What is accounting?</u></h3>
- Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
- A company's operations, financial condition, and cash flows are summarized in the financial statements that are used in accounting. They provide a succinct summary of financial transactions across an accounting period.
- One of the most important aspects of practically every firm is accounting. Small businesses may have a bookkeeper or accountant manage it, whereas larger corporations may have vast finance departments with many people.
Management can make wise business decisions thanks to the information produced by many streams of accounting, including cost accounting and managerial accounting.
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