Which of the following accounting terms assumes that a business's activities can be divided into small segments and that financial statements can be prepared for specific periods, such as a month, quarter, or year?
A) adjusting entry concept
B) economic entity concept
C) matching principle
D) time period concept
D
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Another term for e-mail etiquette is ______.
A. rules of order B. grapevine C. netiquette D. spam protocol
Mr. Hill, who runs a key-chain manufacturing unit, buys raw materials from his supplier during the first week of every month. The supplier's policy states that all payments need to be cleared within 50 days of buying the materials. This schedule ensures that Mr. Hill gets an extended period to make payments thus controlling when the payment is made. Which of the following strategies is Mr. Hill using to control cash outflow?
A. Gaming the payment process B. Timing the purchase C. Offering trade discount D. Taking a consignment
Lean systems maintain inventory in small lot sizes because small lot sizes:
A) increase pipeline inventory, allowing the organization to buffer against demand uncertainties. B) increase the quality level of the product. C) enable schedules to use machine capacities more efficiently. D) increase manufacturing lead time because of the increase in waiting time.
If a line is balanced with 80-percent efficiency, the "balance delay"
A) would be 20 percent. B) would be 80 percent. C) would be 100 percent. D) depends on the next operation.