Each of the following types of activities is likely to occur at a distribution center EXCEPT
A. sorting of goods mid-shipment.
B. placing products on transport vehicles.
C. moving products to loading docks.
D. regrouping of products in transit.
E. long-term storage of inventory before shipping.
Answer: E
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The first wave of globalization was brought to an end by
a. the Great Depression. b. the Second World War. c. the First World War. d. the Smoot-Hawley Act.
What are transferred-in costs as used in a process cost accounting system?
a. Labor that is transferred from another department within the same plant instead of hiring temporary workers from the outside b. Costs that have been incurred in a prior department on units that have been moved into a subsequent department c. Supervisory salaries that are transferred from an overhead cost center to a production cost center d. Ending work in process inventory of a previous process that will be used in a succeeding process
Assume the indirect method is used to compute net cash flows from operating activities. For this item extracted from the financial statements—Gain on Disposal of Equipment—indicate the effect on net income in arriving at net cash flows from operating activities by choosing one of the following:
a. Add to net income to arrive at net cash flows from operating activities b. Subtract from net income to arrive at net cash flows from operating activities c. Not used to adjust net income to calculate net cash flows from operating activities
The objective of profit maximization is rarely operational because its achievement is difficult to measure.
Answer the following statement true (T) or false (F)