What is the significance of Primary Master - Detail Relationship in a Junction Object?

Which of the following needs to be specified in order to schedule a report?

You can update licenses on the Company Profile.

Using the following hierarchy, if a sharing rule exists granting Operations Person Read/Write access to Sales Management on the Account Object, what access does Operations Management have to Sales Management's accounts?
Default access for the
Account object is Public Read Only.
Executive Management
Sales Management
Sales Person
Operations Management
Operations Person

If territory management is enabled for your organization and a lead is converted, how does it get assigned?