Michael Porter has consistently advocated that firms that are able to compete based on some extraordinary efficiency in one or more internal processes bring to the market a competitive advantage based on ________.
A. value ratio
B. price perception
C. quality
D. cost leadership
E. service
Answer: D
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For an assigned claim to be valid, ________.
A. the contract must not be voidable for any other reason known to the assignor B. the assignee must have a good title to the rights assigned C. the assignor need not have the capacity to contract D. the contract must have been discharged once prior to the assignment
When a manufacturing company has a highly automated manufacturing plant, what is probably the most appropriate basis of applying factory overhead costs to work in process?
a. Machine hours b. Cost of materials used c. Direct labor hours d. Direct labor dollars
_______ was the father of scientific management.
A. Frank Gilbreth B. Tom Gallagher C. Abraham Maslow D. Peter Drucker E. Frederick Taylor
Riva borrows $10,000 that she intends to use for purchasing supplies for her business. She temporarily deposits the funds in her personal checking account. Prior to the deposit, the checking account held $40,000 of personal funds. Riva books a vacation for $6,000 and writes a check to the travel agency from her personal account. Later in the month, the business supplies bill arrives and Riva writes a check for $10,000 from the personal account. With respect to the interest expense on the $10,000 loan,
A. 20 percent will be treated as trade or business expense. B. 60 percent will be treated as personal interest expense and 40 percent as trade or business expense. C. it will all be treated as trade or business expense. D. it will all be treated as personal expense.