Explain the concept of outsourcing product development, and give an example of when this would be a good idea.
What will be an ideal response?
Students' answers will vary, but should demonstrate knowledge of the stages of product development and the demands of each as relevant to outsourcing to another firm.
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The direct materials price variance is best measured and reported to appropriate management personnel at the time
a. purchased quantities exceed standard order size. b. quarterly financial statements are prepared. c. shipments are received and recorded as purchases. d. direct materials are issued to production areas.
A company had a tractor destroyed by fire. The tractor originally cost $85,000 with accumulated depreciation of $60,000. The proceeds from the insurance company were $20,000. The company should recognize:
A. A gain of $5,000. B. A loss of $20,000. C. A gain of $65,000. D. A loss of $5,000. E. A gain of $20,000.
Yvonne uses her customer relationship management (CRM) system to predict when her business customers will need more of her company's packaging materials. When she thinks a customer should be ready to make another order, she contacts them. Yvonne is using CRM to encourage customers to engage in a(n)
A. modified rebuy. B. new buy. C. generic buy. D. straight rebuy. E. adapted buy.
Refer to the following bank reconciliation:
Bank Book Balance, June 30, 2017 $11,240 Balance, June 30, 2017 $10,200 Add: Add: Deposit in transit 3,110 Note collected by bank 2,100 Interest revenue 55 Less: Less: Outstanding checks #506 1,200 What will be an ideal response