VMI is ______.
A. a channel alignment method that mitigates the bullwhip effect caused by forecast updates
B. vertically merged integration
C. when the vendor merges his inventory with the inventory of the company
D. a way to reduce cost of inventory transportation
A. a channel alignment method that mitigates the bullwhip effect caused by forecast updates
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An error in the reported inventory will cause errors in all of the following EXCEPT
a. the balance sheet. b. the statement of owner's equity. c. the following year's financial statements. d. the cash account.
A ten-year lease obligation appears on the balance sheet of Generic Products Company. How would it most likely be classified on the balance sheet?
a. Long-term liability b. Current asset c. Long-term asset d. Contra-liability
According to the Principle of Veracity, lying would be justified in which situation?
A. during a poker game B. to trick a criminal suspect into a confession C. to save a life D. all of these
Which of the following is a true statement regarding the appropriate use of the telephone in selling?
A) The telephone is an ineffective and time-consuming way to keep the customer informed. B) The telephone provides instant communication at a lower cost than other methods. C) The telephone is beneficial for building customer goodwill after a sale. D) The telephone is preferred over email by nearly all customers. E) The telephone should rarely be used to thank a customer.