What cautions are in order when using learning curves?
What will be an ideal response?
The cautions when using learning curves include:
1. Estimates for each organization should be developed rather than applying someone else's.
2. When current information becomes available, reevaluation is appropriate.
3. Any change in personnel, design, or procedure can be expected to alter the learning curve.
4. The same learning curves do not always apply to indirect labor and materials.
5. The culture of the workplace, as well as resource availability and changes in the process, may alter the learning curve.
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A method of allocating merchandise cost requiring each item sold and each item remaining in inventory to be separately identified with respect to its purchase cost is called the
a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. weighted-average method.
The existence of the rule of law in a foreign market suggests that
A. foreign investors can assume that their interests will be protected. B. personal relationships will be less effective than in a country governed outside the rule of law system. C. lawyers will be necessary in any substantive business transaction. D. legal rulings will be the basis of any dispute resolution.
In the liquidating process, any uncollected cash becomes a loss to the partnership and is divided among the remaining partners' capital balances based on their income-sharing ratio
Indicate whether the statement is true or false
Validity refers to the degree to which selection procedure predicts how well a person performs on the job.
Answer the following statement true (T) or false (F)