Explain the Meaning of 'Agent of Necessity' and Give Two

question 28

Essay

Explain the meaning of 'agent of necessity' and give two examples.

Calculate cash collections and understand the impact of credit sales on cash flow.

Understand how budgetary planning and control contributes to a company’s financial health.

Grasp the significance of maintaining minimum cash balances and its implications on borrowing.

Understand the concept of budgeted income statement and its relation to other budget components.

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Definitions:

Listening to Managers

The act of actively paying attention to information or instructions given by managerial personnel.

Barriers to Good Listening

Factors that interfere with the ability to accurately receive and interpret messages during the communication process, such as noise, distractions, biases, or lack of interest.

Listening Barriers

Factors that prevent effective absorption, understanding, or response to spoken messages.

Guidelines for Listening

Standards or principles designed to improve active and effective listening skills in various communication contexts.