Which of the following industry types have high expected benefits from the application of MRP?
A. Continuous process
B. Assemble-to-stock
C. Fabricate-to-stock
D. Service and repair parts
E. Fabricate-to-order
Answer: B
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S&H Associates has just performed an audit of Bob's Bikes. S&H was unable to obtain a written representation from management about internal control. Which of the following is true?
A. S&H must still assume that management has assessed the effectiveness of internal control. B. Management does not need to give S&H a letter if it has disclosed all known internal control deficiencies. C. S&H should consider this situation a limitation on the scope of the audit. D. Depending on other factors in the audit, S&H can still issue an unqualified opinion.
How do debits appear in a T-account?
A. They are listed on the right side for asset accounts, but listed on the left side for liabilities and stockholders' equity accounts. B. They are listed on the left side for asset accounts, but listed on the right side for liabilities and stockholders' equity accounts. C. They are always listed on the left side of the account. D. They are always listed on the right side of the account.
A just-in-time environment has smaller inventories than the traditional manufacturing environment. As a result,
A) larger production lot sizes are the rule, in order to realize the cost-effectiveness of long production runs. B) the amount of working capital required for inventory typically increases. C) the just-in-time environment experiences a lower inventory turnover than the traditional environment. D) the just-in-time environment typically experiences a higher inventory turnover than the traditional environment.
A technique for preparing an effective sales messages is
a. presenting all the supporting evidence that is available. b. making the requested action clear and simple. c. avoiding the use of money-back guarantees that suggest the product may not be satisfactory. d. requiring immediate response from the receiver.