In general, rounding large values of decision variables to the nearest integer value causes fewer problems than rounding small values
Indicate whether the statement is true or false
T
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With the price level measured on the vertical axis and output measured on the horizontal axis, the long-run aggregate-supply curve
A. is vertical. B. is upward-sloping. C. is horizontal. D. is downward-sloping.
Sale of equipment for cash is an operating activity
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. In terms of strategic planning, top and middle managers are more involved with planning, whereas the lower-level functional managers and employees implement the operational strategies on a day-to-day basis. 2. An important part of controlling is staying within the budget when appropriate or changing it when necessary to meet changes in the dynamic environment. 3. One reason strategic plans fail is that no action is taken to implement the strategy. 4. The current global trend is for companies to go it alone and compete head on. 5. While selecting strategies and planning, implementing, and controlling them, be sure to be ethical at all stages.
The ________ inventory contains the basic components of the production process.
A) raw materials B) work-in-process C) finished goods D) capital goods