Product costs, such as direct materials, are expensed in the period they are paid
Indicate whether the statement is true or false
FALSE
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In your neighborhood there is a small men's store that has a limited selection of clothing, but the selection that is carried is of very high quality and price
Services include free alterations and tailoring, personalized record keeping, and free dry cleaning. The inside of the store has deep leather chairs and couches and thick pile carpet. Upon entering the store, a customer feels "special and rich." In terms of differentiation, what is this retailer trying to communicate by its decorations and service level? A) differentiation based on services mix and atmosphere B) differentiation based on prepurchase services C) differentiation based on postpurchase services and atmosphere D) differentiation based on ancillary services and atmosphere E) differentiation based on prepurchase and postpurchase services
Department stores carry narrow product lines with deep assortments within those lines
Indicate whether the statement is true or false
In accounting for JIT operations, the Raw Material Inventory account
a. is used to record price variances for raw materials purchased. b. can be expected to have a larger balance than with traditional manufacturing methods. c. is combined with the Work In Process Inventory account. d. is combined with the Finished Goods Inventory account.
Setting a direction is the leadership activity that involves developing a strategic vision of what the organization could become.
Answer the following statement true (T) or false (F)