An aggressive advertising campaign was credited with K-Tel's inability to keep K-Fed's latest CD on the shelves. K-Tel continued to accept orders and promised to ship as soon as they could burn new discs
Customers weren't happy, but were willing to wait. This unfortunate situation can be described as a:
A) stockout.
B) backlog.
C) backorder.
D) lost sale.
C
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Manufacturing company and merchandising company work sheets are prepared using the same five steps
a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1) Smaller businesses invest in a periodic inventory system because of the ability to determine quantities of inventory on hand after each purchase and sale of merchandise inventory. 2) In a periodic inventory system, businesses must obtain a physical count of inventory to determine quantities on hand. 3) If a merchandiser uses the periodic inventory system, it is necessary to conduct a physical count of inventory to determine the quantity of inventory on hand. 4) In a periodic inventory system, purchases, purchase discounts, and purchase returns and allowances are recorded in the Merchandise Inventory account as and when they occur. 5) The Merchandise Inventory account is only used in a perpetual inventory system.
If standard costing is not economically feasible for a company, predetermined overhead rates should not be used
Indicate whether the statement is true or false
The approach step is an important step for gathering information about a buyer's needs and objectives.
Answer the following statement true (T) or false (F)