To regain market share, many American firms have lowered quality standards.
Answer the following statement true (T) or false (F)
False
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Which statement is not true?
a. Auditors must maintain independence. b. IT auditors attest to the integrity of the computer system. c. IT auditing is independent of the general financial audit. d. IT auditing can be performed by both external and internal auditors.
What is the distinguishing characteristic that makes a contract a formal contract?
A) A legal requirement that the contract be in a specific form B) A signature by both parties C) All possible scenarios addressed in the contract terms D) The contract being in writing
A firm is about to undertake the manufacture of a product, and it is weighing three capacity alternatives: small job shop, large job shop, and repetitive manufacturing
The small job shop has fixed costs of $3,000 per month, and variable costs of $10 per unit. The larger job shop has fixed costs of $12,000 per month and variable costs of $3 per unit. The repetitive manufacturing plant has fixed costs of $30,000 and variable costs of $1 per unit. Demand for the product is expected to be 1,000 units per month with "moderate" market acceptance, but 2,000 under "strong" market acceptance. The probability of moderate acceptance is estimated to be 60 percent; strong acceptance has a probability of 40 percent. The product will sell for $25 per unit regardless of the capacity decision. Which capacity choice should the firm make?
Retailers are frequently found in business product channels.
Answer the following statement true (T) or false (F)