A Purchasing Manager Might Be Tempted to Buy Inferior Materials

question 27

True/False

A purchasing manager might be tempted to buy inferior materials because it will create favorable material quantity variance.

Recognize the psychological and behavioral responses to perceived inequities in the workplace and strategies for addressing them.

Understand the impact of performance-contingent rewards on motivation and how managers can use them to influence motivation positively.

Identify the factors that influence a person's motivation to increase work effort in response to perceptions of being underpaid or over-rewarded.

Understand the foundations and applications of social learning theory.

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Definitions:

Net Float

The difference between checks written and deposited but not yet cleared, affecting a company's available cash balance.

Deposited

The act of placing money into a financial account or institution for safekeeping or to earn interest.

Cheques

Non-cash forms of payment that order a bank to pay a specific amount of money from a person's account to another individual or company's account.

Lockbox System

A service offered by banks to companies for the collection of payments from customers, utilizing a special post office box to speed up the deposit of checks.