In the context of financial tools, identify a true statement about income statements.
A. When creating income statements, entrepreneurs must be liberal when estimating demand for their firms' products.
B. Income statements summarize a firm's assets and liabilities.
C. For an entrepreneurial firm, predicting sales is key to developing income statements.
D. Income statements only estimate the net profit figures for a firm during each financial quarter.
Answer: C
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Which of the following activities is a reverse-flow channel of marketing?
A) raw materials movement B) product recycling C) materials ordering D) finished goods storage E) customer order placement
Answer the following statements true (T) or false (F)
1. The equivalent units of production for direct materials and conversion costs must be the same. 2. In a process costing system, equivalent units must be calculated separately for materials and conversion costs. 3. Conversion costs include the costs of purchasing and converting raw materials into finished products. 4. In a production cost report, the number of units to account for must always be greater than the number of units accounted for. 5. A production cost report shows only the calculations for the physical flow of products.
The area to the right of a chi-square value is 0.025. For 5 degrees of freedom, the table value is:
A) 12.83 B) 15.08 C) 11.14 D) 16.18
NBIC (National Bicycle Industrial Company) of Japan specializes in mass customization to cater to the changing demands of its customers. Customers can choose the frame and other parts of the bicycle and it is made according to their order. This is one example of how NBIC uses
A) cooptation. B) flexible processes. C) smoothing techniques. D) benchmarking. E) diversification.