Comment Briefly on the History of Futures Contracts

question 16

Essay

Comment briefly on the history of futures contracts.

Understand the nuances of incentive plans and their potential effects on employee behavior and organizational outcomes.

Understand the nature and behavior of fixed and variable costs, and their relationship to production volume.

Distinguish between direct and indirect costs, and their impact on product costing and pricing.

Comprehend the principles of customer orientation and its effect on production systems.

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Definitions:

Endorser

An individual or entity that signs and backs a document, often a negotiable instrument, indicating their support and assurance.

Special Endorsement

An endorsement on a negotiable instrument, such as a check, specifying the person to whom or the entity to which the instrument is to be paid.

Promissory Note

A promise in writing, signed by the maker, to pay a sum certain in money to the person named therein, or bearer, at some fixed or determinable future time, or on demand.