How can a supply chain become lean? Give at least one example of entities in a supply chain seeking to become lean.
What will be an ideal response?
A successful answer could address the general reduction of waste that can occur in a supply chain, could mention efforts to offset emissions, or other types of environmental impact-reducing efforts.
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During the current year, Gomez Co. had beginning inventory of $2,400 and ending inventory of $1,200. The cost of goods sold was $9,600. What is the amount of inventory purchased during the year?
A. $10,800 B. $8,400 C. $13,200 D. $9,600
The term used to describe the allocation of the cost of an intangible asset to the periods it benefits is
a. depletion. b. apportionment. c. amortization. d. depreciation.
Many companies have to monitor some of their financial statement ratios, such as the current ratio, due to debt covenants. Selected transactions are provided below for a company that uses a perpetual inventory system; sells its merchandise at a selling price that exceeds cost; and had a current ratio of 1.85 to 1 before the event occurred.
Required:In the above table, indicate whether each transaction would increase (+), decrease (?), or not affect (0) the company's working capital and the current ratio.
What will be an ideal response?
Paralegals who are assisting in providing services to a sole proprietorship should not
A. advise the sole proprietor with regard to the income tax consequences of doing business as a sole proprietor. B. assist with the preparation of state and federal forms to comply with state and federal taxation requirements. C. draft and file an application for a certificate of assumed name when that document is required. D. draft and file an application for employer identification number when that document is required.