Explain the Term Usage of Trade

question 54

Essay

Explain the term usage of trade.What happens if there is a conflict between the express terms of the contract and trade usage?

Understand the conditions required for a cash flow series to be considered an annuity.

Distinguish between different types of annuities and apply appropriate formulas for their valuation.

Understand the concept of time value of money.

Calculate the present value and future value of single sums and annuities.

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Definitions:

Organizational Structures

The formal system of task and reporting relationships that controls, coordinates, and motivates employees so that they cooperate and work together to achieve an organization’s goals.

Idea-Generation

The process of creating, developing, and communicating new concepts or solutions.

Defying Orders

The act of refusing to obey direct instructions or commands from a superior or authority figure.

Extrinsic Rewards

Benefits provided by an external source, such as money, grades, or praise, that motivate individuals to perform tasks.