Which of the Following Personal Characteristics Is the Best Predictor

question 19

Multiple Choice

Which of the following personal characteristics is the best predictor of sales success?

• A) The salesperson's sex
• B) The salesperson's ethnic background
• C) The result of the salesperson's intelligence test
• D) The salesperson's personal history and family background
• E) Results of sales aptitude tests

Understand the definition and treatment of contingent liabilities in financial reporting.

Recognize the impact of liabilities on working capital and liquidity.

Calculate and interpret the accounts payable turnover ratio and its implications for business operations.

Understand the FICA tax responsibilities of both the employer and the employee.

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Definitions:

Producer Surplus

The discrepancy between the price producers agree to sell a good for and the price they actually end up receiving.

Economic Efficiency

A condition in which resources are allocated in the most effective way possible, maximizing outputs from given inputs without waste.

Allocative Efficiency

A state of resource allocation where goods and services are distributed according to consumer preferences, reflecting an optimal distribution of resources.

Producer Surplus

The gap between the minimum amount sellers are prepared to accept for a product or service and the actual price it sells for.