Explain why price should not be the only factor when choosing a supplier.
What will be an ideal response?
Potential supply sources should be checked for factors such as quality of output, price, desire to serve, reliability, transportation, terms of payment, and guarantees and warranties. Because all these factors affect a company's performance, a minimum standard must be set for each of these.
Suppliers should not be chosen on the basis of price alone, for quality and/or service may suffer if the supplier has to lower prices to obtain an order. Instead, suppliers should be chosen to meet carefully set quality and service standards. These standards can be used to ensure acceptable quality without paying for quality higher than needed.
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No mention of the contingent liability needs to be made in the financial statements, if the probability of payment is _____
a. "remote" b. "probable" c. "reasonable possible" d. "not plausible"
Which of the following is an acceptable gesture?
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a. Disputing negative self-talk, engaging in functional self-dialogue, visualizing success b. Self-goal-setting, removing negative cues, increasing positive cues c. Self-goal-setting and self-observation d. Focusing on natural rewards, self-goal-setting, and visualizing success