Identify a benefit of outsourcing.
A. It enables a firm to develop the ability to perform processes previously performed by other firms.
B. It frees people, money, and other resources to be employed in profitable ways.
C. It gives a firm more control over its value chain.
D. It simplifies the value chain.
Answer: B
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Holmstrom Corporation has provided the following data concerning last month's operations. Direct materials$14,000Direct labor cost$58,000Manufacturing overhead applied to Work in Process$79,000 BeginningEndingWork in process inventory$47,000 $53,000 Finished goods inventory$41,000 $42,000 How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A. $145,000 B. $186,000 C. $144,000 D. $138,000
Inventory costing methods place primary reliance on assumptions about the flow of
a. costs. b. goods. c. resale prices. d. values.
What would be the adjusting entry for a note payable whose interest is not included in the face amount of the note?
a. Debit Interest Receivable and credit Interest Income. b. Debit Interest Expense and credit Cash. c. Debit Interest Expense and credit Interest Payable. d. Debit Cash and credit Notes Payable.
When a company uses the direct method to determine the cash flows from operating activities, cash flows from operating activities will:
A. always be larger than the amount reported using the indirect method. B. be identical to the amount reported using the indirect method. C. be larger if there is a net cash outflow and smaller if there is a net cash inflow compared to the amount reported using the indirect method. D. be larger if there is a net cash inflow and smaller if there is a net cash outflow compared to the amount reported using the indirect method.