Which of the following is true with regard to backorders?
a. The sale is lost for the moment but filled at a future date.
b. The revenue earnings are improved.
c. They have a positive impact on the company’s reputation.
d. They have a positive impact on the company’s market share.
a. The sale is lost for the moment but filled at a future date.
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Listed below are six of the seven assertions about classes of transactions and events made in the purchasing process. For each, give an example of how an auditor could use one of the typical documents in the purchasing process to test the assertion.OccurrenceCompletenessAuthorizationAccuracyCutoffClassification
What will be an ideal response?
Which of the following statements about treaty reinsurance is true?
A) The reinsurer is required to underwrite each individual applicant that is reinsured. B) The reinsurer must accept all business that falls within the scope of the treaty. C) The ceding insurer can choose which business falling within the scope of the treaty it wishes to reinsure. D) It protects the reinsurer by requiring the ceding insurer to charge adequate premiums.
Yield management systems are used to:
A. determine the availability of product substitutes in complex industries that are experiencing rapid change B. profitably fill unused capacity C. predict necessary service levels to achieve revenue goals D. determine whether it is financially more feasible to buy a new product or repair a broken one E. create elastic demand for low-involvement products
An interjection is used to express strong emotion
Indicate whether the statement is true or false