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Features of Optimum Credit PolicyThe optimum credit policy of an organization represents the best credit efforts to maximize the returns from the use of the policy as a marketing tool. Usually, it depends upon the organization as to how much control over the credit policy must be exerted.A too-tight credit policy will lead to loss of opportunities while a too lenient credit policy may lead to an extension of bad debts. Therefore, an optimum credit policy is required by companies to excel in business operations.The main features of an optimum credit policy are as mentioned below −Credit policy variablesEvaluation of ... Read More
Businesses provide credit to their customer for various reasons. In fact, credit can be used as a marketing tool by companies. In order to do so, a company must look at the maximization of profits via incremental sales. However, it is easier said than done.This is so because, in order to use credit as a marketing tool, the companies have to bear the following three types of costs −Production and Sales CostsProduction and selling costs increase with the incremental sales a firm tends to seek.If sales increase within the already existing production capacity, then only variable production and selling costs ... Read More
What are Credit Policy Variables?Credit policy variables are an essential feature of every credit policy. These variables impact the credit policy directly or indirectly. Since the variables have the power to make or break a credit policy they are considered indispensable while forming and executing the credit policy. Management of credit policies requires efficient handling of credit policy variables.The four types of credit policy variables are as follows −Credit StandardsStandards of Credit Policy refer to the offering of credit to particular customers and it is purely institutional in character. A company may decide to grant credit to a company willingly ... Read More
Credit Policy: DefinitionCredit policy is mainly dependent on the volume of credit sales and the collection period. The volume of credit policy is a function of a company’s gross sales and the percentage of credit sales to total sales. Total sales of a company depend on many factors, such as market size, market share, quality of products, competition, etc.Companies may sell their products in credit for various reasons, such as gaining more market share and being competitive in the industry. Credit sales create trade debtors or accounts receivables where the seller needs to wait for a certain period for the ... Read More
Converter and inverter are both two important power-electronic devices in the field of electrical and electronics engineering. Inverters and converters are used for the conversion of AC power into DC power and vice-versa which is a very important phenomenon in the field power electronic engineering as well as in our day-to-day life.The most significant difference between these two devices is that a converter is a power-electronic device which can transform the electric power from one form (AC or DC) to another form (AC or DC), while an inverter is a type of power electronic converter which converters DC power into ... Read More
The electronic circuit which is used to convert alternating current (AC) into direct current (DC) is known as a rectifier. The process of converting the alternating current into direct current is called rectification. The main component of the rectifier which performs the rectification is the semiconductor diode.Depending upon the type of conversion from AC to DC, i.e. half cycle of AC or full cycle of AC, rectifiers can be grouped into two categories −Half-wave rectifierFull-wave rectifierBased on the circuit configuration, the full-wave rectifier is further classified into two types viz. −Centre-tapped full-wave rectifierBridge rectifierThus, both centre-tapped and bridge rectifiers are ... Read More
In an electric circuit, the rate at which the work is being done (or the energy is being expended) is known as electric power. Mathematically, electric power can be defined as the work done (or energy expended) per unit time, i.e., $$\mathrm{Power, \mathit{P}\:=\:\frac{Work\:done\:(\mathit{W})}{Time(\mathit{t})}}$$The unit of electric power is Joules per second.Based on the type of current, the electric power can be of two types viz.: DC power and AC power. The AC power is further classified into three main types as −Apparent power (S)Active power (P)Reactive power (Q)In this article, we will discuss about what the apparent power and the ... Read More
Ammeter and galvanometer are both measuring instruments used to measure the current flowing through a circuit. The most significant difference between a galvanometer and an ammeter is that the ammeter measures only the magnitude of the current flowing in the circuit, while the galvanometer shows both magnitude and direction of the current in the circuit.Go through this article to know more about ammeter and galvanometer and the key differences between these two measuring instruments.What is a Galvanometer?A galvanometer is an electromechanical measuring device used to measure the strength of current and direction in an electric circuit. A typical galvanometer consists ... Read More
In JavaScript, We can use the reduce() method to apply a function against an accumulator and each key of an object (from left to right).The reduce() method is called on a given array and takes in a callback function as its first argument. Please refer to Array reduce() for more details. Let’s look at the syntax of this method.Syntaxarray array.reduce(callback[, initialValue]);Parameterscallback − Function to execute on each value in the array.initialValue − Object to use as the first argument to the first call of the callback.The callback function is passed with four argumentsThe first argument is the accumulator, which is ... Read More
In this tutorial, we'll be discussing how to get the sum of the powers of all the numbers from start to end in JavaScript. We'll be using the built-in Math.pow() method to calculate the powers and the Array reduce() method to sum up the values.Using the Math.pow() methodThe Math.pow() method allows us to calculate the power of a number. We can use this method to calculate the powers of all the numbers from start to end.SyntaxMath.pow(base, exponent) ;ParametersBase − The base number.Exponents − The exponent to which to raise the base.ExampleFor example, if we want to get the sum of ... Read More