Homemade Crafts Company (HCC) Sells Collectible Items Such as Dolls

question 10

Essay

Homemade Crafts Company (HCC) sells collectible items such as dolls, jewelry, drink coasters and table linens.The company, which has five full-time employees, obtains its merchandise from independent contractors throughout the United States; they then mark up the products and sell them at craft stores and other outlets.Two of the five employees interact with the independent contractors, arranging inventory purchases based on demand for HCC's products and their own personal preferences.Those same employees use their personal vehicles to transport the inventory from HCC's main office to the retail locations where they will be sold.A third employee serves as the company's receptionist, while the fourth manages all aspects of the accounting information system.The company president is the fifth employee, and is in charge of administrative affairs such as hiring, performance evaluation and publicity.HCC purchases its entire inventory on account from the independent contractors, some of whom offer cash discount terms for early payment.The company accountant records purchases in Quickbooks using invoices submitted by the two employees in charge of purchasing.Quickbooks is set up to remind the accountant to pay invoices three days before their due date.At that time, the accountant prepares a check and uses a rubber stamp of the president's signature to sign the check before mailing it to the appropriate vendor.The receptionist, who also deposits cash receipts in the bank, reconciles the bank statement once a month.Identify three risk exposures for HCC's acquisition/payment process.For each risk exposure, indicate how it would be classified in Brown's risk taxonomy.Also suggest, for each risk exposure, two internal controls.Do not use the same internal control more than once.

Recognize the role of discriminative stimuli in shaping behavior and its implications across different contexts.

Comprehend the importance of immediate vs. delayed reinforcement in learning and behavior modification.

Identify and analyze the ethical and practical considerations of using punishment and reinforcement in behavior modification.

Acknowledge the limitations and criticisms of behaviorist approaches, including the neglect of cognitive and emotional aspects of learning.

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Definitions:

Amplitude

The height or strength of a wave signal, often used in reference to sound or electromagnetic waves.

Panache

Distinctive and flamboyant flair or style.

Relative Size

A monocular cue for perception that allows us to determine how close objects are to an object of known size.

Texture Gradient

A depth cue in perception, referring to the way texture becomes denser and finer as it moves into the distance, helping the eye perceive depth.