Which of the following performance measures will increase if inventory decreases and all else remains the same? Return on InvestmentResidual IncomeA)YesYesB)NoYesC)YesNoD)NoNo
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: A
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Gilday Furniture Inc produces custom furniture. Wood chips are an inevitable by-product of the cutting process, and are considered scrap. Gilday is unable to use this scrap; however, the company has an agreement to sell the scrap at market prices to a
local company that processes the wood chips to make industrial fillers. Record the entries required for scrap under each of the following conditions: (a) The revenue received for scrap is to be treated as other income. The market value of wood chips is stable and is currently $200 per ton. The company has seven tons on hand. (b) The revenue received for scrap is to be treated as a reduction in manufacturing cost, but cannot be identified with a specific job. A firm price is not determinable for the scrap until it is sold. It is eventually sold for cash of $800. (c) The revenue received for scrap is to be treated as a reduction in manufacturing cost, and five tons of scrap are related to a special job where the company made numerous round tables. The market value of wood chips is stable and is currently $200 per ton.
To manage inventories in globally supply chains, companies must ______.
A. have a clear understanding of the nature of their business operations B. apply the same tools used to manage inventories in domestic supply chains C. have an isolated ERP system D. be less dependent on technology
If an individual taxpayer is unable to file a tax return by its original due date, the taxpayer can request an automatic nine-month extension to file the return.
Answer the following statement true (T) or false (F)
In a two-good world the optimal combination of the goods to consume is that combination where
a. the marginal rate of substitution (MRS) is minimized. b. the marginal rate of substitution (MRS) equals the ratio of the prices of the two goods. c. the budget line is flattest. d. the consumer’s preference is concave.