Harvard Uses a Forced Choice Ranking System in Evaluating a Number

question 3

Essay

Harvard uses a forced choice ranking system in evaluating a number of classes in its business curriculum.In this system,for example,10% of the students might receive As,20% Bs,60% Cs and 10% Ds.Discuss the issues surrounding such a grading system.

---

Definitions:

Average Collection Period

The usual number of days necessary for a firm to get payments from its buyers.

Operating Cycle

The duration of time it takes for a company to buy inventory, sell the goods, and collect the receivables from the sale.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Cash Collections

Cash collections refer to the process of gathering all cash generated from sales, services, or receivables by a business during a specific period.