TrinityApps Corporation (US)has Bid a Price on a Project for a Korean

question 41

Multiple Choice

TrinityApps Corporation (US) has bid a price on a project for a Korean firm, but the Korean firm has not yet placed an order. This portion of the operating cycle is best described as the:

• A)quotation period.
• B)input sourcing period.
• C)cash conversion cycle.
• D)accounts payable cycle.

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Definitions:

Frederick Taylor

An American mechanical engineer who sought to improve industrial efficiency and is considered the father of scientific management.

Systematic Soldiering

The deliberate and coordinated effort of workers to restrict output by limiting the speed at which they perform work. Workers engage in systematic soldiering to prevent piece rates being cut.

Taylor's Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Salary Increase

An upward adjustment to an employee's remuneration, recognizing their contributions, inflation, or market adjustments.