The potential for misunderstanding increases when you use language that is speci?c rather than general
Indicate whether this statement is true or false.
FALSE
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Chamberlain Company buys designer clothing to sell in its retail stores. Since much of the merchandise comes from Dallas and Europe, Chamberlain Company must pay freight charges to get the merchandise shipped in. Which statement is true?
a. Transportation-in is added to net purchases to determine cost of goods purchased in a periodic system. b. Transportation-in, paid by Chamberlain Company, is subtracted from purchases under the periodic system. c. Freight charges are only paid by a buyer in a periodic system. d. Transportation-in, paid by Chamberlain Company, is added to the inventory account under the periodic system.
It is estimated that by simply rearranging their product development activities and personnel in a global way, ______.
A. companies can increase productivity by 210% B. companies can realize cost savings C. companies can increase elasticity of demand D. companies can be more compliant with government regulations
Which of the following is an example of direct labor cost for an airplane manufacturer?
A) Cost of oil lubricants for factory machinery B) Cost of wages of assembly worker C) Salary of plant supervisor D) Cost of jet engines
Unlike other methods of inventory management, logistics _____
a. is concerned with the flow of information via paperless means b. regards order processing, transportation, warehousing, customer service, and inventory management as interdependent c. seeks to minimize inventory accumulations in the whole channel system d. seeks to trade off the lower inventory levels with lower levels of customer service