The short-term objectives of some firms have a huge impact on the company's bottom line and are not easy to measure.
Answer the following statement true (T) or false (F)
False
Some companies make the mistake of focusing on short-term objectives. Although these objectives are easy to measure, they don't necessarily have any impact on the company's bottom line.
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Listed below are steps of purchasing and receiving materials: 1 . The receiving clerk prepares a receiving report. 2 . Purchase requisitions are prepared to notify the purchasing agent that additional materials are needed. 3 . The purchase of merchandise is recorded by the accounting department. 4 . The purchasing agent completes a purchase order. In which order would these events typically
happen? a. 4, 2, 3, 1 b. 2, 4, 3, 1 c. 2, 4, 1, 3 d. 4, 2, 1, 3
A customer's promise to pay for goods or services
A) increases the company's liabilities. B) decreases the company's Cash account. C) creates a liability for the company. D) increases the assets of the company.
A corporation may be a limited partner in a limited partnership
Indicate whether the statement is true or false
A multi-level bill of material:
I. reflects the way the product will be manufactured. II. is produced by the purchasing department. III. is a parts list only and does not contain subassemblies. A) Only I is true. B) Only II is true. C) Only III is true. D) I and II are true. E) I, II and III are true.