Few purchasing managers have been able to turn over any of their order placing to computers because so few organizational purchases are routine.
Answer the following statement true (T) or false (F)
False
Generally, buyers program decision rules that tell a computer how to order and leave the details of following through to the computer. If conditions change, buyers modify the computer instructions.
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______ is the process of comparing an organization’s products or services and processes with those of other companies.
a. Comparative assessment b. Critical comparison c. Calibration d. Benchmarking
The legislative branch is charged with interpreting the laws in the course of applying them to particular disputes
Indicate whether the statement is true or false
In a classic blending problem, revenue is maximized by subtracting cost from profit
Indicate whether this statement is true or false.
When preparing its quarterly financial statements, Pace Co. uses the gross margin method to estimate ending inventory. The following information is available for the quarter ending March 31, Year 2: Beginning inventory$223,000? Purchases$788,000? Sales$1,095,000? Estimated gross margin percentage 45?% What is the estimated amount of inventory that is on hand on March 31, Year 2? (Do not round your intermediate calculations.)
A. $454,950 B. $556,050 C. $408,750 D. $602,250