A manager is interested in deciding production quantities for products A, B, and C. He has an inventory of 20 tons each of raw materials 1, 2, 3, and 4 that are used in the production of products A, B, and C
He can further assume that he can sell all of what he makes. Which of the following statements is CORRECT?
A) The manager has four decision variables.
B) The manager has three constraints.
C) The manager has three decision variables.
D) The manager can solve this problem graphically.
C
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Who bears ultimate responsibility for the financial statements?
A. Management of the organization. B. The external auditor that audits the statements. C. Management of the organization, equally with the external auditor that audits the statements. D. Management and the shareholders of the organization.
During the forming stage of a group or team, the leader should
A. allow people to socialize and become acquainted. B. establish permanent control. C. empower team members. D. encourage disagreement. E. work through team conflicts.
As a general rule, revenue is recognized at the point of sale. Which one of the following situations illustrates this rule?
a. Products are sold to customers on credit with payment due in 30 days. b. Employees are paid wages the week after the wages are earned. c. Products are purchased for resale purposes. d. Interest is collected from amounts loaned to employees.
U.S. GAAP and IFRS provide guidance for deciding whether a given financing arrangement appears as a liability on the balance sheet or is disclosed in the notes
Indicate whether the statement is true or false