Describe how the idea of experimentation helps a company move forward in a careful and cost effective manner.
What will be an ideal response?
Experimentation allows the entrepreneur to test assumptions in a repeatable and planned manner.Experimentation helps the entrepreneur avoid costly mistakes.Experiments, if carried out with purpose, will produce reliable results that the entrepreneur can use to guide his or her business.Experimentation can occur with the product, to test customer assumptions and distribution assumptions, and all other areas of the business.
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The document one business sends to another business that identifies the amount to be paid is:
a. check b. purchase requisition c. vendor invoice d. disbursement voucher
Which department is least likely to be involved in the revenue cycle?
a. credit b. accounts payable c. billing d. shipping
Two different costs incurred by Ruiz Company exhibit the following behavior pattern per unit: Units Sold 50 100 150 200 Cost #1$300per unit$150per unit$100per unit$75per unitCost #2$2per unit$2per unit$2per unit$2per unitCost #1 and Cost #2 exhibit which of the following cost behavior patterns, respectively?
A. Variable and fixed B. Variable and variable C. Fixed and variable D. Fixed and fixed
If a company has a positive contribution margin but net operating income is low or negative, what are some ways of increasing net operating income?
A) Increase sales price B) Increase sales volume C) Decrease variable costs D) All of these are ways to increase net operating income