Which of the following determines the nature of procurement of raw materials, transportation of materials to and from the company, manufacture of the product or operation to provide the service,
and distribution of the product to the customer along with follow-up service?
A) Competitive strategy
B) Product development strategy
C) Marketing and sales strategy
D) Supply chain strategy
Answer: D
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In preparing financial statements, accountants should consider all of the following except:
a. The objectives of financial reporting. b. The characteristics that make accounting information useful. c. The most useful way to display the information found on the financial statements. d. The presentation of the value of a company.
The following information is available on a depreciable asset owned by Mutual Savings Bank: Purchase dateJuly 1, Year 1Purchase price$82,600?Salvage value$11,400?Useful life8 yearsDepreciation methodstraight-lineThe asset's book value is $64,800 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $6400 rather than the original estimate of $11,400. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:
A. $1958.33 B. $2433.33 C. $4866.67 D. $2700.00 E. $2366.37
If accounts payable is $1,116 and cost of goods sold is $11,315, what is days' payable outstanding?
A. 33 days B. 36 days C. 30 days D. 45 days E. 40 days
Jordan and Isabel enter into a contract under which Jordan agrees to cater Isabel's wedding in exchange for $5,000. The contract can expressly prohibit and prevent the transfer of
A. Jordan's right to receive funds. B. Isabel's right to receive personal services. C. no rights under the contract. D. all rights under the contract.