Provide specific examples of why accurate product or service costing information is important for internal purposes
It may be useful for the following reasons:
· to determine accurate pricing information
· to determine a product's profitability
· for cash budgeting purposes
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How does the “born with prior knowledge of right and wrong” philosophy of human nature differ from the “born good” philosophy?
What will be an ideal response?
Pepsi executives realized that more consumers are concerned with health. It has since expanded into the bottled water and bottled juice markets. This is an example of a firm identifying and capitalizing on a
A. market opportunity B. core competency C. competitive advantage D. strength E. marketing strategy
Jetspack manufactures a device that, using a rocket, propels people who are in water, up 40 feet in the air. The device is available in tourist locations such as Newport Beach, California and Honolulu, Hawaii. Before allowing tourists to experience the device, the Jetspack dealers require users to sign a waiver that indicates that they understand the risks in using the device. Which of the
following statements is correct about the liability of the Jetspack manufacturer?? A) ?Because of the waiver Jetspack would have no liability to tourists who are injured while using the device. B) ?Jetspack would not have liability because the franchises are owned separately and there is no privity of contract between Jetspack and the tourists. C) ?Jetspack would have liability, despite the waiver, if the Jetspack device malfunctioned. D) ?None of the above
What is the simplest way to eliminate risk?
a. Risk reduction b. Risk mitigation c. Risk avoidance d. Risk identification