Creating a budget is an important part of which phase of the planning and control process?
A. Planning
B. Controlling
C. Executing
D. Implementing
Answer: A
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Tracing costs used to price inventory to vendors' invoices test which of the following assertions?
A. Occurrence. B. Classification. C. Cutoff. D. Accuracy.
An implied warranty of habitability:
A. guarantees that a house is free of hidden defects that would render it unsafe for human habitation. B. is limited to the first buyer and does not extend to subsequent purchasers of a property. C. when breached, subjects the defendant to liability measured only by the cost of repairs. D. applies to any ordinary seller of a house, and not just builders, builder-vendors, and developers.
Which of the following is true with respect to buyers in business markets?
A. Business buyers always act rationally when making purchases for their company. B. Business customers tend to be less informed about the products they purchase than consumer buyers. C. Business customers demand detailed information about a product's functional features and technical specifications. D. Business customers are no different than buyers in consumer markets. E. Business customers tend to buy products from their friends and contacts with business suppliers.
Manufacturers are required to report on any products intended for sale if the products have proved to be hazardous.
Answer the following statement true (T) or false (F)