Which of the following statements is true about logistics operations?
a. Logistics is the transformation of raw materials into finished products.
b. Logistics refers to the transportation and activities associated with transportation of raw materials and finished goods.
c. Logistics are usually the first operations activity to be offshored.
d. Logistics are usually the first operations to be outsourced.
b. Logistics refers to the transportation and activities associated with transportation of raw materials and finished goods.
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What type of errors or fraud might happen if (1) the accounts payable ledger is not periodically reconciled to the control account in the general ledger and (2) suppliers' invoices are not compared to purchase orders or to receiving reports before payment?
Which of the following is FALSE concerning readability level?
a. A readability level of 10 means that a person would need to be able to read at the tenth-grade level to understand the material. b. The two factors that affect the readability level are the number of words in the passage and the complexity of the sentences. c. Many word processing programs calculate readability measures automatically. d. The writer should use feedback on readability level to revise appropriately.
Dratif Corporation's working capital is $33,000 and its current liabilities are $80,000. The corporation's current ratio is closest to:
A. 3.42 B. 1.41 C. 0.41 D. 0.59
Which of the following describes the Sales Tax Payable account?
A. A liability account with a normal debit balance. B. A revenue account with a normal credit balance. C. An asset account with a normal debit balance. D. A liability account with a normal credit balance.