Robert Hayden sells metal gazebos. He approaches a large retail chain of home improvement stores. He decides beforehand to sell 10 pieces to their regional procurement manager. In terms of the acronym "SMART", his primary objective is to:
A. have a targeted rate of return.
B. put customer service first.
C. maximize the customer's order.
D. relate to the present and future needs of the customer.
E. be specific.
Answer: E
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Accountants argue that which of the following approaches to estimating Allowance for Bad Debts provides a realistic estimate of the net receivables?
a. taking a percentage of net sales b. taking a percentage of revenue c. aging the accounts receivable d. analyzing the sales on account
Responding to pressure after a problem has arisen is known as
A. proactive change. B. refreezing. C. reverse mentoring. D. reverse brainstorming. E. reactive change.
A furniture manufacturer has decided that its use of a single plantwide predetermined overhead allocation rate is no longer accurate. In making the transition to using multiple predetermined overhead allocation rates, which of the following statements is incorrect?
A) In selecting machine usage as the primary cost driver for the Production Department, management feels that there is a direct relationship between the number of machine hours used and the amount of overhead costs incurred. B) Management must analyze the expected overhead costs and separate them into a cost pool for each department. C) The allocation process changes because there are now multiple cost pools and multiple allocation bases. D) The use of multiple predetermined overhead allocation rates is more complex, but it may be more accurate.
Once established, competitive advantages last forever whether the firm is in a high technology environment or not.
Answer the following statement true (T) or false (F)