Competence Rather Than Seniority Is Most Likely the Basis for Promotion

question 68

Multiple Choice

Competence rather than seniority is most likely the basis for promotion when ________.

• A)corporate competitiveness is necessary
• B)union agreements are involved
• C)civil service regulations apply
• D)compensation packages are limited

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Definitions:

Outstanding Cheques

Checks that have been written and recorded in the payor's ledger but have not yet been cashed or cleared by the bank.

NSF

An acronym for "Non-Sufficient Funds," indicating that an account does not have enough money to cover a presented check or withdrawal.

Cash Management

The process of collecting, managing, and investing a company's cash flows in a way that maximizes liquidity and profitability.

Operating Cycle

The duration of time it takes for a company to purchase inventory, sell it, and convert the sale into cash through customer payments.