Which of the following is an example of purchasing?
A) using recycled materials you had on hand
B) storing lumber left over from a construction job
C) keeping mannequins for a storefront
D) ordering fabric from a wholesaler
E) asking for materials labeled "seconds"
Answer: D
Explanation: D) Any time you order anything from anywhere, you are making a purchase. Purchasing is the activity of finding the best resources for the best price from the best suppliers to produce the best goods and services.
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Which of the following statements is not an example of local products or brands?
A) Coca-Cola developed several branded drink products for Japan. B) Coca-Cola markets Kinely brand bottled water in India. C) BMW uses "the ultimate driving machine" slogan in India. D) Diageo PLC markets Gordon's Edge, a gin-based ready-to-drink beverage in the United Kingdom. E) Coca-Cola developed a noncarbonated, ginseng-flavored beverage for Japan.
Unfavorable variances are represented by credit balances in the overhead account
Indicate whether the statement is true or false
An approach that goes directly to showing the product to the prospect is the:
A) referral approach B) question approach C) product demonstration approach D) survey approach E) premium approach
If an estimate for an activity is deterministic, then ______.
a. sufficient historical information is available to make this determination with a reasonable degree of accuracy b. the estimate is based on probability that the activity will be completed in a given time frame c. the estimate is based on probability that the activity will be completed in a given time frame plus/minus three standard deviations d. the estimate is based on a stochastic model