What is an Internal Control for Inventory?  The most common type of internal control for inventory is to take a physical account of inventory at least once a year. When taking inventory we want to make sure that we use pre-numbered inventory tickets to link the purchase order, to the receiving order, to the payables number, the check number, etc.  W...

What is Placement in the Marketing Mix? Where and through what methods are the products or service sold? The various aspects of product placement include: Location Distribution Channels Directness of Channel Number of Channel Members Criteria for Channel Members Number of Channels per Market Locations Local, National, International, Internet-based, ...

What is the Labor Market?  The labor market is essentially the supply and demand for workers. As the demand for employees fluctuates and increases or decreases within the market, the supply of employees changes along with the fluctuation.  What influences the labor market? There are many factors that can influence the market: Minimum wage Immigratio...

What is Business Process Reengineering (BPR)? Business process re-engineering (BPR) is the redesign of fundamental aspects of business processes.  The objective of BPR is to achieve improvements in performance measures, such as cost, quality, service and speed. Redesign is generally centered around customer processes rather than functional hierarchi...

What is an Appeal to the US Supreme Court? The function of the US Supreme Court is generally to provide appellate review of cases appealed from the US District Court of Appeals or from State Supreme Courts. How do cases arrive before the US Supreme Court? The Supreme Court lays out procedures by which cases arrive before it.  The US Supreme Court ac...

How Do I Start a Real Estate Fund? A private real estate fund is managed investment fund that invests entirely in real estate. Generally, the fund allows investors to pool capital together for investment by a real estate developer who manages the fund. Like most investment funds, the structure and operations can be quite cumbersome. Fortunately, the...

What is the Settlement of a legal dispute? A settlement means that the parties to a legal dispute work out their differences and enter into an agreement to resolve the situation.  How Does a Legal Settlement Work ? By voluntarily entering into an agreement to resolve the situation, the parties enjoy numerous advantages over litigation.  First, the p...

What is an Encumbrance? An encumbrance refers to a claim that a neighboring property owner makes against the one who owns the property. This can have an immediate impact on whether the property can be transferred, and further puts limitations on its free use till the encumbrance is not waived off. The concept of encumbrance is usually applicable in ...

What is a Security Market Line? The security market line (SML) is a chart that symbolizes the visual or graphical representation of the expected rate of return and the expected risks of different securities traded in the market. SML serves as a visual representation of the capital asset pricing model (CAPM) that displays the systematic or market ris...

What is Attribution Theory? Attribution theory, proposed by Fritz Heider (1958), is a social psychology theory that deals with how individuals relate and make sense of the social world. More specifically, it is concerned with how people translate events around them and how their translations affect their thinking and behavior.  How does Attribution ...