Which of the following factors are used to compute the number of days' sales in accounts receivable?
a. Inventory turnover and 365 days
b. Accounts receivable turnover and 365 days
c. Net sales and average inventory
d. Average accounts receivable and cost of goods sold
B
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The entry to close Cost of Goods Sold at the end of the year includes a debit to Income Summary
a. True b. False Indicate whether the statement is true or false
________ has traditionally been defined as any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor
A) Sales promotion B) Advertising C) Personal selling D) Public relations
Baby boomers are a large consumer target for many products and "show and tell" focus groups are being used by consumer researchers. Which of the following statements is not true about "show and tell" focus groups?
A) Respondents' attitudes are uncovered by analyzing their responses to scenarios that are deliberately unstructured, vague, and ambiguous. B) They provide the needed insight into the core values boomers hold close to their hearts. C) Participants bring in three or four items that represent their ideal environment. D) Group discussion is centered on the items brought in for "show and tell."
The assumptions necessary for a successful product-oriented layout include all EXCEPT which of the following?
A) adequate volume for high equipment utilization B) standardized product C) volatile product demand D) adequately standardized supplies of raw materials and components E) All of the above are appropriate assumptions.