Which if the following is not true about the retail inventory method?
a. It is used to estimate ending inventory; b. A ratio of cost divided by retail price is used in the computation; c. Records of both the cost and the selling prices must be kept; d. Companies that use this method are also likely to use the specific identification method; e. It is a variation of the gross profit method.
D
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______ is the process of listing activities that must be performed to accomplish an objective.
a. Planning b. Scheduling c. Prioritizing d. Managing
For good controls over cash payments, the person who orders goods from a supplier should always be different from the person who approves the payment
Indicate whether the statement is true or false
Faced with seasonal peaks, an effective revenue management tactic is to charge a higher price during the peak period and a higher price during off-peak periods
Indicate whether the statement is true or false.
Which of the following statements regarding software acquisition (purchase vs. in-house development) is false?
A. software developed in-house can cost 10 times more than purchased software B. when a suitable software package is available for purchase, it is better to buy it rather than try to reinvent it in-house C. the annual maintenance of in-house software is typically 25 percent of the development cost, whereas the annual maintenance of purchased software is typically 50 percent of the purchase price D. none of the statements are false