When Authority Is Delegated, So Should Commensurate

question 9

Multiple Choice

When authority is delegated, so should commensurate

• A) training
• B) responsibility
• C) command
• D) liability

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Definitions:

Short-Term Debt

A financial obligation that is due to be repaid within a year or less.

Cash Cycle

The cash cycle, also known as the cash conversion cycle, measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

Operating Cycle

The period it takes for a business to acquire resources, produce inventory, sell it in the market, and eventually collect cash from the sale.

Accounts Payable Period

The average amount of time it takes for a business to pay off its suppliers and creditors for purchases made on credit.