Goal Congruence Exists When _____

question 34

Multiple Choice

Goal congruence exists when _____.

• A)short-run goals reflect long-run goals
• B)individuals and groups aim at the same organizational goals
• C)the budget reflects the organization's goals
• D)performance reports are used constructively

Determine the significance of the accounts receivable turnover in managing receivables.

Calculate and interpret the times interest earned ratio to assess interest payment capacity.

Understand operating cycle calculations to manage cash flow effectively.

Evaluate the equity multiplier to understand the level of financial leverage.

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Definitions:

Express Warranty

An express warranty is an explicit guarantee made by a seller regarding the quality, functionality, or performance of a product, which forms part of the contract of sale.

"As Is"

The term "as is" denotes a condition of sale in which the buyer accepts an item in its current state, with all faults and without warranty, implying the buyer cannot hold the seller responsible for any defects.

Excellent Mechanical Condition

Refers to a state where mechanical systems and components are functioning at their best with no need for repairs.

Merchantability

A warranty that goods sold will meet reasonable expectations of quality and functionality as implied in a sale.