When designing a sourcing strategy, it is important for a firm to
A) develop a process that will procure materials at the lowest possible cost.
B) maintain a record of all contracts, receipts, issues and other transactions in the event of lawsuits.
C) maximize the profitability of the distributors within the supply chain.
D) be clear on the factors that have the greatest influence on performance and target improvement on those areas.
Answer: D
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Which of the following errors will cause the trial balance totals to be unequal?
A) amount incorrectly entered on the trial balance B) failure to record a transaction or to post a transaction C) recording the same transaction more than once D) recording the same erroneous amount for both the debit and the credit parts of a transaction E) posting a part of a transaction correctly as a debit or credit but to the wrong account
The amount of inventory expensed during the year is reported on the income statement as:
A) sales revenue. B) cost of goods sold. C) operating expenses. D) administrative expenses.
In DBR (drum-buffer-rope), which of the following is referred to as the drum?
A. scarce resources B. inventory C. raw materials D. work stations
Stark enters into a contract with a contractor to build a large shopping mall in River City. Donner will greatly benefit from this contract since his convenience store is adjacent to the mall. Donner in this instance is:
a. an implied beneficiary. b. a partial beneficiary. c. a donee beneficiary. d. an incidental beneficiary.