The First Hominins Are Thought to Have Evolved About

question 136

Multiple Choice

The first hominins are thought to have evolved about

• A) 200 million years ago.
• B) 100 million years ago.
• C) 50 million years ago.
• D) 6 million years ago.
• E) 1 million years ago.

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Definitions:

Accounts Receivable Period

The average number of days it takes a company to collect payments owed by its customers, indicating the efficiency of a company's credit and collections policies.

EOQ Model

Economic Order Quantity Model, a formula used by businesses to determine the optimal quantity to order that minimizes total inventory costs.

Optimal Order Size

The quantity of stock that minimizes both ordering and holding costs in inventory management, often determined by the Economic Order Quantity model.

Credit Policy

A set of guidelines that a company follows to determine credit terms for customers, including payment terms, credit limits, and how to manage past-due accounts.