Define capital budgeting.
What will be an ideal response?
Capital budgets are intended to provide a basis for evaluating expenditures that will impact the business for more than one year. For example, a capital budget may project expenditures for new equipment, vehicles, computers, or even a new facility. It may also consider evaluating the costs of make or buy decisions in manufacturing or a comparison of leasing, buying used, or buying new equipment.
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Explain how a sales forecast is used to determine the sales volume for a typical small business.
What will be an ideal response?
Which of the following terms is correctly described?
A. Lean manufacturing allows a company to achieve efficient levels of high-volume, low-cost production. B. Synchronous manufacturing reduces flexibility in responding to customer demand. C. Agile manufacturing refers to manufacturing in multiple locations. D. Distributed manufacturing refers to using different teams in the manufacturing process to maintain objectivity.
Extensive customization of a product offered in different international markets can defeat which of the following benefits of global trade?
A) lowered production costs B) access to less expensive labor C) access to less expensive materials D) access to new consumer markets E) ability to offset domestic economic cycles
If a person who prefers to get right to the point has a first discussion with a person who prefers a personal connection style, the more direct one (if she has not been taught about diversity in communication styles) is likely to ______.
a. be unable to communicate b. adopt to the person’s communication style c. cease communication with the other person d. believe the other person is wasting time