Companies that sell online maintain large warehouses and pay for picking, packing, and shipping, three activities known as _____.
A. auctioning
B. pure play
C. profiling
D. fulfillment
Answer: D
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A LIFO reserve represents the amount by which cost of goods sold on a FIFO basis exceeds the cost of goods sold on a LIFO basis for the current year
a. True b. False Indicate whether the statement is true or false
While no general principle describes the nature of items excluded from net income and included in Other Comprehensive Income, they tend to arise from remeasurements of assets and liabilities (often, remeasurements at fair value) and not from transactions. For example, IFRS permits but does not require firms to revalue certain noncurrent assets upward to reflect increases in fair value in excess
of acquisition cost. Under IFRS, such a revaluation remeasurement increases assets (because the firm now records an existing asset on the balance sheet at a larger number) and increases Other Comprehensive Income. These increases are accumulated in a(n) _____ account, Revaluation Surplus. a. liability b. shareholders' equity c. revenue d. asset e. expense
In periods of falling purchase prices and increasing inventory quantities, LIFO results in a _____ than either FIFO or the weighted-average cost-flow assumption
a. higher cost of goods sold; lower reported periodic income; lower current income taxes b. lower cost of goods sold; lower reported periodic income; lower current income taxes c. higher cost of goods sold; higher reported periodic income; lower current income taxes d. higher cost of goods sold; higher reported periodic income; higher current income taxes e. a lower cost of goods sold; higher reported periodic income; higher current income taxes
Discuss the contingent nature of strategic controls. How would controls be different for firms pursuing overall low costs strategies versus differentiation strategies?
What will be an ideal response?