Scenario 8.2 Use the following to answer the questions. KFC opened its first franchised restaurant outside of North America in England in 1964. Now over a billion KFC chicken dinners are sold annually in more than 80 countries and territories around the world. KFC has established its own processing plants in these countries to ensure the quality of its chickens and other food items. In the U.S., the menu at KFC is usually the same in all restaurants, with only a very few additional items available in different regions. However, when KFC first franchised into Asian countries, it added many unusual local delicacies to the menu--items such as fried octopus and squid. Additionally, the franchised stores in Asian countries display cooked food in "plates" near windows at the front of the
store. This is a tradition for many restaurants in these countries--to offer the customer passing by a preliminary view of their product. Refer to Scenario 8.2. KFC's establishment of international production/processing facilities is an example of
A. direct ownership.
B. franchising.
C. strategic alliance.
D. outsourcing.
E. a trading company.
Answer: A
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A) Finished Goods Inventory if it is the first process B) units not completed and remaining in Work-in-Process Inventory for that department C) Cost of Goods Sold when the units are sold D) Work-in-Process Inventory of the previous department when there are no sales
The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed
A) historical cost B) contra asset C) book value D) market value
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A. $1,450 F B. $3,009 U C. $5,810 U D. $2,503 F
The members of a job evaluation committee usually represent all important constituencies within an organization.
Answer the following statement true (T) or false (F)