Which of the following formulas gives the inventory turnover ratio?
a. Net credit sales/Average inventory
b. Average inventory/Net credit sales
c. Cost of goods sold/Average inventory
d. Average inventory/Cost of goods sold
c
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Product categories are considered to be the business units that should be customized on a store-by-store basis to satisfy customer needs. Which of the following best describes this process?
A) category management B) market segmentation C) efficient consumer response D) continuous replenishment program
The financing activities section of the statement of cash flows includes certain transactions and activities from the income statement and also takes into account stockholders' equity
Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. An attribute of VSM is that it is a tool for reducing the carbon footprint. 2. Reduction of carbon footprint is one of the elements of total quality management. 3. Lean approaches focus on reducing cost through optimization of the manufacturing process. 4. Lean approaches focus on reducing cost through optimization of the manufacturing process. 5. Having uneven production quantities is a way to accomplish schedule stability.
An arm's length transaction is one in which:
a. the parties owe each other a special duty of confidentiality. b. the parties owe each other a fiduciary duty. c. the parties are acting in their own self-interest. d. None of these.