In presourcing, suppliers are selected early in the concept-development stage
Indicate whether the statement is true or false
TRUE
You might also like to view...
The following set of items describes activities completed by a company in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. An employee from the accounting department compares the control list and the cash register tapes with the bank deposit slip
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
A firm classifies mortgages, notes, bonds, and leases which were used to acquire its long-term assets that fall due after the operating cycle, (usually greater than one year) as
a. a current liabilities. b. a long-term asset. c. a long-term liabilities. d. part of shareholders' equity. e. contingent liabilities.
Which of the following best describes an express warranty?
A) Any promise, oral or written, obligating the seller to repair or replace goods for a specified period of time B) Any statement or other representation made with respect to goods C) A written provision obligating the seller to repair or replace goods for a specified period of time D) Any guarantee that the goods will pass without objection in the trade
First Federal had a perfected security interest in Vicor's printing press. Second Credit had a security interest in the same press, but its interest was not perfected. First Federal takes priority over Second Credit
a. True b. False Indicate whether the statement is true or false