Define derived demand and provide an example NOT included in the text.
What will be an ideal response?
A major characteristic of business products is that sales of items are often the result of derived demand; that is, sales of industrial products frequently result (or are derived) from the sale of consumer products. For example, if consumer demand for Ford automobiles increases, this will increase the demand for maintaining and servicing Fords.
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Answer the following statements true (T) or false (F)
1. Members of smaller teams tend to be more highly committed and satisfied. 2. Larger teams are more likely than small ones to have formal and autocratic leadership. 3. People tend to exert less effort when working in groups than when working alone, a tendency known as social loafing. 4. Job modeling is a socially determined set of rules for how an individual should behave in an organization.
Registration under ISO 9000 is
a. required for all companies doing business internationally. b. required for all European companies doing business in Europe. c. not required for U.S. companies unless they use European suppliers. d. required for all companies producing regulated products to be sold in the European Union.
Back office work is typically routine, with many steps having considerable divergence
Indicate whether the statement is true or false
A report that lists a business's accounts and their balances, in which the total debit balances should equal the total credit balances, is called a(n):
A. General Journal. B. Account balance. C. Ledger. D. Trial balance. E. Chart of accounts.