A retailer reduces its invoice by 5 percent since a supplier shipped seasonal merchandise 10 days late. The price reduction is designed to compensate the retailer for additional markdowns. This reduction illustrates a _____

Bureaucracy can be defined a

A. a classical management approach that applied scientific methods to analyze and determine the “one best way” to complete production tasks. B. a classical management approach that attempted to understand and explain how human psychological and social processes interact with the formal aspects of the work situation to influence performance. C. a classical management approach that attempted to build into operations the specific procedures and processes that would ensure coordination of effort to achieve established goals and plans. D. a contemporary management approach that emphasizes the application of quantitative analysis to managerial decisions and problems. E. a classical management approach emphasizing a structured, formal network of relationships among specialized positions in the organization.

What is the name of the type of demand for money that arises because a firm may need to purchase something due to an unanticipated change in its environment?

A) transactions B) precautionary C) short-term D) long-term