Which of the Following Is Not Considered a Basic Tenet

question 17

Multiple Choice

Which of the following is not considered a basic tenet of the human relations model of organizations ?

• A)Noneconomic rewards and sanctions significantly affect the behavior of the workers and largely limit the effect of economic incentive plans.
• B)Workers do not act or react as individuals but as members of groups.
• C)The level of production is set by social norms, not by physiological capacities.
• D)Workers tend to give passive cooperation to their employer.

Define collection policy and its role in credit management.

Explain the purpose and use of an aging schedule in managing receivables.

Understand the concept of credit cost curve and its implications for credit policy.

Define credit period and identify factors influencing it.

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Definitions:

Arbitration

A method of dispute resolution where a neutral third party (the arbitrator) makes a decision that is usually binding on all parties involved.

Certification

The process of officially recognizing someone or something as having certain qualifications or standards.

Certification Process

A process under labour legislation whereby a trade union acquires bargaining rights and is designated as the exclusive bargaining representative of a unit of employees.

Bargaining Rights

The rights granted to entities, often unions, to negotiate the terms of employment, including wages and working conditions, on behalf of a group of employees.