A supermarket orders inventory every Friday afternoon. What type of inventory systems is the supermarket using?
A) Continuous review
B) Periodic review
C) Continuous replenishment
D) ABC
B) Periodic review
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Under generally accepted accounting principles, the lower-of-cost-or-market procedure for assigning a value to inventory can be assigned to
a. total inventory. b. groups of similar inventory items. c. individual inventory items. d. all of these.
Which of the following statements is FALSE? The purpose of The Competition Act is
A) to ensure small and medium sized businesses have an equitable opportunity to participate in the Canadian economy B) to provide consumers with competitive prices C) to maintain and encourage competition among businesses D) to ensure consumers are provided with product choices E) to fund new businesses that will provide more competition in certain industries
Over the time span of the production plan, which of the following can usually be varied to change
capacity? A) work force B) inventories C) plant and equipment D) all of the above E) A and B
Southern Furniture Co hired Chuck to drive a company truck and deliver furniture. Chuck had a spotless driving record and did well on his driving test. Belinda ordered a chair from Southern Furniture Co and arranged for its delivery on her lunch hour
Belinda was at home when Chuck delivered the chair. After delivering the chair, Chuck brutally assaulted Belinda, causing physical and psychological injuries. Chuck was convicted in the criminal courts. During the trial it was revealed that Chuck had been in a mental institution for the criminally insane for two years because he had assaulted his mother and other women. He also had a lengthy criminal rap sheet involving theft crimes. Belinda sought compensation for her physical and psychological injuries from both Chuck and Southern Furniture Co in civil court. Discuss the probable outcome of this case with regard to the issues of: (a) respondeat superior and (b) general tort liability of principals for the unauthorized acts of their agents.