In a transportation problem, items are allocated from sources to destinations:
A) at a maximum cost.
B) at a minimum cost.
C) at a minimum profit.
D) at a minimum revenue.
Answer: B
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A merchandiser purchased inventory on account for $17,000. In a periodic inventory system, the journal entry to record the purchase would include ________.
A) a debit to Purchases for $17,000 and a credit to Accounts Payable for $17,000 B) a debit to Accounts Payable for $17,000 and a credit to Purchases for $17,000 C) a debit to Merchandise Inventory for $17,000 and a credit to Accounts Payable for $17,000 D) a debit to Accounts Payable for $17,000 and a credit to Merchandise Inventory for $17,000
As a business practice, broadening involves ________
A) acquiring or merging with firms in the same or complementary industries to gain economies of scale and scope B) factoring the interests of customers, employees, shareholders, and other stakeholders into the activities of the enterprise C) buying more goods and services from outside domestic or foreign vendors D) appointing teams to manage customer-value-building processes and break down walls between departments E) becoming more accountable by measuring, analyzing, and documenting the effects of marketing actions
Types of Audit Opinions For the past five years, Clark CPAs has audited the financial statements of a manufacturing company. During this period, the audit scope was limited by the client as to the observation of the annual physical inventory. Because
Clark CPAs considers the inventories to be material and was not able to satisfy the audit requirements by using other auditing procedures, the firm was unable to express an unqualified opinion on the financial statements in each of the five years. The CPA was allowed to observe physical inventories for the current year ended December 31, 2014, because the client's bank would no longer accept the audit reports. However, to minimize audit fees, the client requested that the CPA not extend audit procedures to the inventory as of the beginning of the year, January 1, 2014. REQUIRED: Which type of audit report would you suggest be issued this year and why?
Internal (company) and external (competitors, customers, governments, etc.) environments largely determine how managers must act to provide the organization with the right combination of people to help the organization reach its ______ goals.
A. environmental B. formalization C. strategic D. organizational