The Idea Behind Fail-Safing Is to Ensure That ________

question 84

Multiple Choice

The idea behind fail-safing is to ensure that ________.

• A) certain errors will never occur
• B) customer expectations are met
• C) the highest risks are eliminated
• D) forward planning takes place
• E) the importance of quality is not neglected

Grasp the principles of organizational culture and workforce diversity.

Comprehend the significance of reciprocity in organizational behavior.

Describe concepts and strategies for managing organizational behavior.

Recognize the importance of situational approaches in management.

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Definitions:

Lockboxes

A banking service where payments are sent to a special post office box rather than to the company's offices, to speed up transaction processing.

Disbursement Float

The time lag between when a payment is made by writing a check and when the funds are actually removed from the payer's account.

Float Costs

The expenses associated with issuing new stocks or bonds, including underwriting, legal, and registration fees.

Optimal Cash Balance

The ideal amount of cash a company should hold to minimize both holding costs and transaction costs.