A typical purchasing manager
A. seeks the lowest possible cost.
B. tries to satisfy both individual needs and company needs.
C. has the final decision on all purchases.
D. buys strictly on economic needs.
E. All these answers are correct.
Answer: B
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During July 2019, Midtown Catering recorded the following:
Catering services of $86,400 were provided ($64,500 on account, $21,900 for cash) Collections on account, $58,950 Write-offs of uncollectible receivables, $2,560 Recovery of receivable previously written off, $1,000 Journalize Midtown's transactions during July, assuming Midtown uses the allowance method. Omit explanations.
Electric, Inc. was incorporated on January 1, 2016. Electric issued 4000 shares of common stock and 1200 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 12% dividend rate. Electric has not paid any dividends yet. In 2019, Electric had its first profitable year, and on November 1, 2019, Electric declared a total dividend of $63,000. What is the total amount that will be paid to preferred shareholders?
A) $14,400 B) $57,600 C) $13,200 D) $63,000
Which of the following most accurately describes the concept of forecasting?
a. Estimate past demand b. Summarize past sales c. Estimate future demand d. Summarize future pricing
Concurrent engineering approaches may create cross-functional teams that are likely to include all of the following except?
a. Engineering b. Executives c. Marketing d. Operations