Explain the business market purchase decision process by taking a fictional company through the six stages of the process.
What will be an ideal response?
The stages are problem recognition, define the need and product specifications, search for suppliers, seek sales proposals?response to RFP, make the purchase decision, and post purchase evaluation of product and vendor.
Examples will vary.
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Which of the following is not a way management obtains evidence regarding the effectiveness of internal control over the accounting system?
a. Performing a walkthrough of the accounting system. b. Making inquiries of banks and attorneys. c. Reviewing system flowcharts. d. Taking plant and operational tours.
Using the information below, calculate the cost of goods manufactured for the period: Beginning Raw Materials Inventory$33,000? Ending Raw Materials Inventory 24,600? Beginning Work in Process Inventory 63,000? Ending Work in Process Inventory 72,000? Beginning Finished Goods Inventory 92,000? Ending Finished Goods Inventory 75,000? Cost of Goods Sold for the period 548,000? Sales Revenues for the period 1,262,000? Operating Expenses for the period 240,000?
A. $573,200. B. $565,000. C. $557,000. D. $531,000. E. $540,000.
Steven is beginning a new job but has not yet been paid. He needs $400 to pay his rent this month. Steven is going to borrow the money through a Payday Loan establishment
They are charging him an $80 fee to borrow the money for 10 days until he receives his first paycheck. What is the actual interest rate that Steven is being charged? A) 7.3% B) 73.0% C) 730.0%. D) .073% E) None of the above
In the early days of electronic commerce, shoppers selected items they wanted to purchase by filling out online forms which required a shopper to _____
a. manually enter product descriptions b. place items into a shopping cart c. enter into a video chat with the vendor d. e-mail credit card information