Job order costing would be used for all of the following except:
A. Construction of a custom home.
B. Conducting an audit.
C. Production of a Pixar movie.
D. Production of running shoes.
E. Production of wedding invitations.
Answer: D
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Which of the following is an account that is shown on the balance sheet for a merchandiser but not on the balance sheet of a service business?
A) Unearned Revenue B) Sales Discounts Forfeited C) Estimated Returns Inventory D) Cost of Goods Sold
When customers cannot discriminate among products, they consider the products to be similar, and the main determinant of which product is purchased is:
A) their quality. B) product recall. C) their USP. D) their relative price.
In a sequential new product development process, which of the following is true of the product development step?
A) Product development is usually followed by a business analysis of the product. B) Product development involves introducing a product into realistic market settings. C) Product development avoids testing products on actual customers due to liability concerns. D) Product development is usually followed by test marketing. E) Product development helps top management review profit projections.
What point is the text trying to make by illustrating the legal ruling in Florida that stated judges and lawyers cannot be “friends” on Facebook?
a. Codes of conduct should remain somewhat vague to encompass changing situations. b. New societal or environmental conditions may require changes to a code of conduct. c. Conflicts of interest should be addressed in codes of conduct. d. Codes of ethics are often better at handling complex situations than codes of conduct.