Which of the following describes a company hiring a foreign firm to produce a designated volume of its product to specification?
A. Licensing
B. Contract manufacturing
C. Exporting
D. Importing
E. Direct investment
Answer: B
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Generally, communication is done in “side-by-side” arrangement--avoiding eye contact--in ______ culture.
A. American B. African C. Asian D. Arabic
If the total materials variance (actual cost of materials used compared with the standard cost of the standard amount of materials required) for a given operation is favorable, why must this variance be further evaluated as to price and usage?
a. There is no need to further evaluate the total materials variance if it is favorable. b. Generally accepted accounting principles require that all variances be analyzed in three stages. c. All variances must appear in the annual report to equity owners for proper disclosure. d. It is done so that management can evaluate the efficiency of the purchasing and production functions.
The introduction usually takes approximately what percentage of the time during a speech?
a. 5 b. 25 c. 10 d. 40
A machine with a cost of $75,000 has an estimated residual value of $5,000 and an estimated life of 4 years or 18,000 hours. What is the amount of depreciation for the second full year, using the double declining-balance method?
A) $17,500 B) $37,500 C) $18,750 D) $16,667