When the Economy Is Characterized by High Inflation,special Pricing Tactics

question 62

Essay

When the economy is characterized by high inflation,special pricing tactics are often necessary.One popular cost-oriented tactic is culling low-profit margin products from the product line.Why might this tactic backfire? What two other cost-oriented tactics can be used to guard against inflation? Describe these tactics.

Recognize the procedures and significance of posting transactions in accounting.

Know the types of transactions recorded in specific journals.

Understand the relationship and reconciliation between control accounts and subsidiary ledgers.

Identify the functions and anatomy of different parts of the ear.

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Definitions:

Human Resources

The department within an organization that deals with recruitment, management, and direction of people.

Competency-Based

This approach focuses on identifying and developing specific skills and competencies within an organization to optimize performance and productivity.

Job Analyses

The systematic process of collecting and analyzing information about the duties, responsibilities, and the context of a job, to identify required skills and qualifications.

Organizational Success

The achievement of the goals and objectives set by an organization, often measured by metrics such as profitability, market share, or stakeholder satisfaction.