_____ involves unbundling the price paid and understanding the total cost of ownership over the life cycle of a product or service to deliver a target cost and a unit rate to determine if it is priced competitively in the marketplace
a. Cost management
b. Procure-to-pay
c. Supplier relationship management
d. Category management
e. Spend management
a
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What occurs during discovery and what are some of the purposes for it?
What will be an ideal response?
In the unaided open-ended format, there is a response probe in the form of a follow-up question, instructing the interviewer to ask for additional information
Indicate whether the statement is true or false
Freight-In is treated as a deduction in the cost of goods sold section of the income statement
Indicate whether the statement is true or false
Martinez, Inc. acquired a patent on January 1, 2017 for $40,000 cash. The patent was estimated to have a useful life of 10 years with no residual value. On December 31, 2018, before any adjustments were recorded for the year, management determined that the remaining useful life was 6 years (with that new estimate being effective as of January 1, 2018). On June 30, 2019, the patent was sold for $25,000.Required:Part a. Prepare the journal entry to record the acquisition of the patent on January 1, 2017.Part b. Prepare the journal entry to record the annual amortization for 2017.Part c. Compute the amount of amortization that would be recorded in 2018.Part d. Determine the gain (loss) on sale on June 30, 2019.Part e. Prepare the journal entry to record the sale of the patent on June 30,
2019. What will be an ideal response?