A product liability action based on negligence requires privity of contract between the injured plaintiff and the defendant-manufacturer
Indicate whether the statement is true or false
False
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Marshall Company uses a standard cost system. Variable overhead costs are allocated based on direct labor hours. In the first quarter, Marshall had a favorable efficiency variance for variable overhead costs. Which of the following scenarios is a reasonable explanation for this variance?
A) The actual number of direct labor hours was lower than the budgeted hours. B) The actual variable overhead costs were higher than the budgeted costs. C) The actual variable overhead costs were lower than the budgeted costs. D) The actual number of direct labor hours was higher than the budgeted hours.
What might be considered to be a major drawback of employing an outsourcing strategy?
A. It reduces the company's risk exposure to changing technology and/or buyer preferences. B. It allows a company to concentrate on its core business, leverage its key resources and core competencies, and do even better what it already does best. C. It improves organizational flexibility and speeds time to market. D. It involves an activity that can be performed better or more cheaply by outside specialists. E. It can hollow out a firm's own capabilities and cause it to lose touch with activities and expertise that contribute fundamentally to the firm's competitiveness and market success.
The p-value
a. is the same as the Z statistic b. measures the number of standard deviations from the mean c. is a distance d. is a probability
Which of the following is not an example of a typical resource shared between a buyer and supplier? a. Dedicated capacity
b. Specific information. c. Technological capabilities. d. Direct financial support. e. Advertising and media.