A backorder occurs when a customer order cannot be filled when it is placed, but is instead filled later

Indicate whether the statement is true or false


TRUE

Business

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Which of the following is FALSE concerning teams?

a. A group must go through a developmental process to begin functioning as a team. b. Team members need training in problem solving, goal setting, and conflict resolution. c. The self-directed work team can become the basic organizational building block to help assure success in dynamic global competition. d. Skills for successful participating in team environments are the same as those for success in traditional organizations.

Business

The left side of the accounting equation measures the amount that the business owes to creditors and to the stockholders

Indicate whether the statement is true or false

Business

A collective mark is used in connection with goods or services to certify their regional origin

a. True b. False Indicate whether the statement is true or false

Business

ABC Insurance Company plans to sell homeowners insurance in five Western states. ABC expects that 8 homeowners out of every 100, on average, will report claims each year

The variation between the rate of loss that ABC expects to occur and the rate of loss that actually occurs is called A) objective probability. B) subjective probability. C) objective risk. D) subjective risk.

Business