One assumption of linear programming is that a decision maker cannot use negative quantities of the parameters
Indicate whether the statement is true or false
FALSE
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Parks Company reported an increase of $370,000 in its accounts receivable during the year 2015 . The company's statement of cash flows for 2015 reported $1 million of cash received from customers. What amount of net sales must Parks have recorded in 2015?
a. $370,000 b. $1,000,000 c. $1,370,000 d. $630,000
The lower-of-cost-or-market value (LCM) rule ________.
A) replaces the use of specific identification, FIFO, LIFO, or weighted-average inventory costing methods. B) violates the conservatism principle C) requires that merchandise inventory be reported in the financial statements at the lower of the historical cost or the selling price of the inventory D) is an accounting issue separate from applying an inventory costing method
In the new product development process, a description of the features a product will have and the benefits those features will provide a customer is called a ________
A) product idea B) product concept C) product image D) product innovation E) product adoption
Which of the following is NOT one of the reasons a process may need to be reexamined once it has been implemented?
a. There is no longer an alignment between the manufacturing process and the market. b. There may be potential to make it more cost efficient. c. There may be potential to make it more responsive to the market. d. The product is not selling well.