Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's Five Forces model. Which of the following represents supplier power in the music industry?

A. Walmart, Target, iTunes.
B. Taylor Swift, Beyoncé, The Beatles, The Stones.
C. Established record labels like EMI, Sony, Universal.
D. Game systems like Wii, social networks like Facebook.


Answer: C

Business

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The American _____ promoted the use of European standard for 7 years before officially adopting it.

A. Universal Product Council B. Trade and Tariff Association  C. Uniform Code Council  D. Chamber of Commerce

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The accounting records of Omar Corporation contained the following information for last year: BeginningEndingDirect materials inventory$9,000 $7,000 Work in process inventory$17,000 $31,000 Finished goods inventory$10,000 $15,000   Manufacturing Costs IncurredDirect materials used$72,000Overhead applied$24,000Direct labor cost (10,000 hours)$80,000Depreciation$10,000Rent$12,000Taxes$8,000Unadjusted cost of goods sold (does not includeoverapplied or underapplied overhead)$157,000  Selling, General, andAdministrative Costs IncurredAdvertising$35,000 Rent$20,000 Clerical$25,000  The total costs added to Work in Process during the year were:

A. $162,000 B. $206,000 C. $182,000 D. $176,000

Business

What are four criteria that a valid base for allocating costs should consider?

Business

A firm can use alpha testing, where individuals within the firm simulate the target customer's use of a nearly realized product

After making any necessary adjustments or refinements, the firm proceeds with beta testing, where the firm provides select customers with the new offering and gains feedback on it from the customers' experiences. Indicate whether the statement is true or false

Business