A company that sets its goals and strategies based on what its current equipment can produce, what products engineering can design, and what the company itself can do best, has a(n) _____ orientation.
A. marketplace
B. sales
C. market
D. exchange
E. production
Answer: E
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Indicate whether the statement is true or false
Standard costing is typically a sophisticated and inexpensive component to add to a company's existing cost accounting system
Indicate whether the statement is true or false
An inventory held to reduce or eliminate fluctuations in production is called a(n) ______ inventory.
A. smoothing B. hedge C. anticipation D. pipeline
Morris Lest, Inc. sold its delivery truck for $500 more than its book value. The sale will result in a(n):
A. decrease in Accounts Payable on the balance sheet. B. increase in net income on the income statement. C. increase in Cost of Goods Sold on the income statement. D. decrease in gross profit on the income statement.