In Herzberg's two-factor theory, hygiene factors are ________. Consumers who defend a company against detractors and help other customers in the use of the product are called ________. Socialism. Why the business owner chose to enter a particular business field oc.) a. The first step in setting price is to match the strategic plan to ________. rate if the customer pays$600 in advance. average annual salary for the last 2 years. One of the main downsides of founding a. Which of the following is a defining characteristic of a problem-solving team? ** Which of the following Acts guarantees equal opportunities in education and employment for those with health issues and who may require reasonable accommodation to perform certain job tasks? Which of the following is a disadvantage of a sole proprietorship? Raw materials stage 2. This means that most services are ________. plus or minus the cash flows from operating activities equals the Asked 4/26/2015 8:18:03 AM. Which of the following is one of the least risky forms of international business activity? Job production is when individual products are made one at a time to meet specific customer preferences. The classic theory of comparative advantage suggests that each country should ________. James primarily focuses on buying and selling of products using the internet. Which of the following is a manufacturing business? Determine if each of the following is an example of a manufacturing, service, or, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Don Herrmann, J. David Spiceland, Wayne Thomas, Daniel F Viele, David H Marshall, Wayne W McManus. Applying game playing principles to existing business processes. have a straightforward income tax structure. Most services are consumed at the same time they are produced and cannot exist before or after that time. Explain. Which of the following creates competition for finite resources, thereby forcing trade-offs by participants in the economy? Investments in corporations have more liquidity than partnerships and sole proprietorships. The period of time between placing an order for supplies and receiving the material is called ________. Accepting multiple cultures on their own terms is the practice of ________. Money serves as a(n) ________ to simplify transactions because a buyer can trade it for a good or service. Finished Goods Stage Three types of Inventories 1. business. Virtually every decision made is influenced by the economic environment. These may depend on the size of the business, the number of owners and the level of risk owners are willing to take. A limited liability company combines attributes of a partnership 2 Consider the following sentence: "To become the most affordable fashion brand for every person in the world." This is most likely to be a growing fashion company's Your Answer Vision statement Correct Answer Vision statement Explanation For a growing company, this is a forward-looking vision statement as it aims at becoming the top cost leader in the fashion industry around the world. Encouraging the repetition of a particular behavior by not offering unpleasant consequences for the behavior is called ________. Lean is a way of thinking about creating needed value with fewer resources and less waste. 1Which of the following businesses buys products from other businesses to sell them to customers. c. the cash at the beginning of the period Expert answered|matahari|Points 8304| Log in for more information. Write your answers in simplest terms. ________ is the study of the relationship between organisms and the natural environment. A business model where a firm hires another firm to produce components or products. In order to test a process virtually before implementing it on the factory floor, engineers can use ________. The expected norms of behavior in a particular situation are referred to as ________. These actions taken by Enron executives were ___________. Unlike a sole proprietorship, a corporation has limited financial liability. 47c4f981e04e4409bee15b246979130d Microeconomics includes the study of ________. Which factor of production represents the collective intelligence of an organization? Which of the following statements is true with regards to globalization? ________ laws limit what businesses can and cannot do to ensure that all competitors have an equal chance of succeeding. In a team, people who focus on work-related accomplishments over human needs, and help the team reach its goals are said to assume the ________. ________ is defined as meeting the needs of the present without compromising the ability of future generations to meet their own needs. What is the meaning of the term "consumerism"? 2.d. they provide major financing for the ________ utility is the benefit provided by making the company's products available where customers want to purchase them. a. _______ refers to a creative tactic designed to capture the audience's attention and promote preference for the product or company being advertised. A person's disclosure that exposes illegal or unethical behavior by others within the organization is. What is the probability exactly one of the four audited had a charitable deduction of more than $1,000? In the money supply, what represents the cash held by the public and money deposited in checking accounts? (WRONG). Legal liability for the misdeeds of the company. In the ________ strategy, strategic decisions are made at headquarters in the home country, but local business units are allowed to make "on-the-ground" decisions that are most appropriate for the local environment. The study of the statistical characteristics of a population is called ________. 9 The results of the study sparked our interest in further examining the dynamics of how manufacturers are reaching outside . Does the information presented here conflict with the UN report? Employees and managers must agree on goals. ________ include(s) a range of tools and techniques that help marketers plan and evaluate marketing activities. B. The internet has removed performance variability for most services. d. exceed liabilities and stockholders' equity by merchandising business d. 2.An investment business Capital market stakeholders have an During the month of February, Nurix earned $55,400 of revenues by providing services to 45 clients. 5.The basic financial statements include the: a. bank \ c. exceed liabilities and stockholders' equity given information, which of the following statements is true? Why is there a potential for distortion in performance when using reinforcement to motivate behavior? Which of the following is an advantage of offshoring goods where labor is a significant part of production costs? Who enforces this? The number of workers that a manager directly supervises is called the manager's ________. B It can enable a business to create a bank of content, which can be reused to create ads C It helps a company identify its biggest competitors D It provides you with another channel to push sales and promotional messages to customers on a regular basis True False (a) Prepare a histogram and/or normal probability plot for the sample. Selling existing products to new markets is referred to as ________. One significant advantage to using television for advertising is the ________. A. Power-seeking B. Stock exchanges are organizations that ________. ________ is an element of the marketing mix that refers to a wide variety of persuasive techniques used by companies to communicate with their target markets and the general public. tends to be interactive and conversational (WRONG). A country can assist its domestic producers by implementing ________ such as special business licenses and limiting foreign companies' access to them. Relies heavily on others who believe in the business C. Willingness and desire to follow others D. Action-oriented Definition D. Action-oriented Term (p. 148) Which of the following best describes entrepreneurial personality traits? Social media has given consumers numerous ways to ask questions, voice concerns, and otherwise demand attention, supporting which consumer right? When a large amount of money is needed for a short amount of time, ________ is used as a short-term promissory note to repay a borrowed amount by a specified time with a specified interest rate. A manufacturing business b. Which of the following is an assistive writing tool that provides real-time advice about the effectiveness of the written language? Which of the following is an advantage of a small business? A small-scale consulting firm in Hawaii was struggling financially because it was unable to generate enough capital to run its business transactions. Business ethics. What type of office layout is shown in the picture? Medically necessary criteria for the rhinoplasty component of the combined procedure and relevant coding instructions can be found in ANC.00008 Cosmetic and Reconstructive Services. Her annual salary for the last 2 years Who are those responsible for investigating financial crimes? The following are examples of external users of accounting information except. ________ refers to some aspect of a product or company that makes it more appealing to target customers. ________ is/are the study of how a society uses scarce resources to produce and distribute goods. Which of the following theorists developed the three-needs theory of motivation that highlights needs for power, affiliation, and achievement? Raw Material Inventory 2. **Louisa Tibaldi's group disabilit y policy has a benefit percentage of 65 % of her b. Below are 30 individual observations on box fill. 0 Answers/Comments . Companies use ________ in an effort to capture everything current and potential customers say and write about the company and its products. When demand for goods and services drops, businesses reduce production, resulting in economic contraction. One goal of The Resource Recovery Act (1970) is to ________. A. Tolerant of uncertainty and highly energetic. d. the cash at They are concerned if the money that the put in the firm is safe Multinational corporations are companies that ________. Which of the following is an advantage of creating a team with a diverse background? Net income for the current year totaled $186,000. 7.The statement of cash flows is integrated with the balance Which of the following best describes a purpose-driven business? Which of the following is nota role of accounting in business? Total retained earnings increased by $240,000 during the current When the number of competitors in a market is small, and competitors influence each other through production and pricing decisions, a situation known as ________ is created. What type of utility is created when a customer actually purchases and has a product? Which of the following are guidelines for behaving ethically? Accountant preparing a tax return - Service Determine if each of the following businesses is an example of a manufacturing, service, or merchandising business. True/False. How can society encourage organizations to use ethical behavior to promote mutually beneficial relationships? is influenced more by subconscious and emotional factors. 1.Which of the following businesses buys products from other b. exceed liabilities and stockholders' An example would be tailor-made suits, which are made specifically to each customer's. Activities undertaken by businesses to recruit and promote members of groups whose economic progress had been hindered through either legal barriers or established practices are known as ________ programs. Identify the consequences of a decision and its effect on others. Perceived risk, interest rates, and opportunity cost all determine ________. Expert Answer. Based on the Instead, buyers competitively propose the prices that they are willing to pay. Work in Process Inventory 3. The conventional promotion model differs from the social model of customer communication in that the conventional promotion model ________. Results are less susceptible to cognitive errors. percentage at 2.25 % for each year he has worked for his company. 2. is aligned with a company's overall business strategy. The manufacturing industry netted a loss of 578,000 jobs during the pandemic-challenged year 2020a figure that represents nearly six years of job gains, 1 and yet, at any given moment in the past six months, nearly 500,000 jobs have remained open in manufacturing. A contract manufacturer ("CM") is a manufacturer that enters into a contract with a firm to . Truth in Lending Act (Consumer Protection Credit Act) (1968). The process of collecting and interpreting information about customers, competitors, and other related marketing issues is known as ________. 1. a. merchandising business A business in which goods are produced by converting raw materials purchased into finished ones is termed as a manufacturing business. _______ activities are intended to identify new ideas and designs that have the potential to result in new goods and services. ________ are not-for-profit, member-owned cooperatives that offer deposit accounts and lending services to consumers and small businesses. Which of the following is a key advantage that corporations have over sole proprietorships and partnerships? What criteria must be met for goals to function as effective motivators? Which of the following is a key provision of the Civil Rights Act of 1991? recorded as an increase to equipment and as an increase to cash, at 2. ________ refers to buying goods or services from a supplier in another country. ________ are contracts whose value is determined based on the value of some other entity such as stocks pools of debt or currencies. Finished Goods Inventory Raw Materials Inventory the materials on hand not yet processed Work in Process Inventory According to the job characteristics model, the degree to which the employee has responsibility for completing an entire task is called ________. Mike is thinking about expanding his manufacturing business internationally. Suppose the Internal Revenue Service is studying the category of charitable contributions. Which of the following groups of companies are all examples of a merchandising business? Selling, general and administrative costs are part of manufacturing overhead. Goods in Process Stage (Work in Process) 3. 6.If a $15,000 purchase of equipment for cash is incorrectly It may be the only way to gain access to business in a country (WRONG). Institutional advertisements that present a company's point of view on public issues such as education or health care are known as ________ advertising. Being overly focused on achieving goals set using management by objectives may result in the inability to respond to a change in the business environment, or ________. Which of the following authorizes management to vote on behalf of a shareholder in a corporation? (b) Is the mean of these 20 same means where it should be? A cross-functional team that deals with recurring tasks and has the opportunity to become a permanent part of the organization's structure is known as a ________. on the balance sheet. (a) Make your own empirical estimate of the probability that a DVD movie from your collection is longer than 2 hours ( 120 minutes). According to Maslow, workplace factors such as health insurance, pension plans, and retirement benefits would satisfy ________. Explain. ________ refers to the use of random sampling and tools, such as control charts, to monitor quality. In a ________, the raider launches a public relations battle for shareholder votes, hoping to enlist enough votes to oust the board and management. The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the ________. 2003-2022 Chegg Inc. All rights reserved. $$. The Defense Industrial Base Sector enables research, development, design, production, delivery, and maintenance of military weapons systems, subsystems, and components or parts to meet U.S. military requirements. The intermediary collects the receivables from the customer. . peer pressures cause individual team members to withhold contrary or unpopular opinions. minus assets and liabilities equals the end of period cash reported A major advantage of partnerships is that they ________. success of the company for keeping their jobs. Assigning employees to project teams without reorganizing the company's structure. ________ marketing is a program that works to promote a social issue while promoting the company and its products. Make the journal entry to record the following transactions. For example, airlines, telecommunication companies, and plumbing companies. the sense each employee has that his or her efforts contribute to the outcome. $15,000. Costs associated with delivery are impacted by this factor. human resources Which one of the following is true regarding the economic environment of business that shapes the behavior of buyers and sellers? mostly intrinsic and include achievement, recognition, responsibility, and other personally rewarding factors (WRONG). And employer's portion of FICA taxes and unemployment taxes \ ________ involves selling more of your existing products into the markets you already serve. Suppose four of these returns are selected for a comprehensive audit. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. A manufacturing business b. inexpensive products that organizations generally use within a year. Which of the following is the basic premise of a derivative? Right-click the Start Menu (in the taskbar) and select Device Manager. When a raider offers to buy shares of stock at considerably more than the current stock price, a(n) ________ is being made. \text{?\\\% of \$5000 = \$200} A) must focus on governmental regulations. One way to resolve conflict is to insist on fair outcomes and not letting team members hide behind rules, leading to ________. Performing at a high level, and continuing to improve is an indication of ________ in one's pursuit of professionalism. Risk averse and self-nurturing. The Civil Rights Act of 1991 amended the Civil Rights Act of 1964, and, gave employees the right to have a trial by jury in discrimination cases. Which of the following is an example of a fixed cost? Select one: A. cost of raw materials How much control a business owner wants O to retain b.) Which of the following is a consideration when choosing a form of business organization? Performance management systems allow companies to move from annual reviews to ________, giving managers and employees time to correct issues before things get too far off track. General Motors b. Facebook c. American Airlines d. Target ANSWER: A a . Portion of FICA taxes and unemployment taxes. Which of the following is one of the ways packaging promotes the marketing strategy of a particular brand? Which of the following is a defining characteristic of a committee? A firm following a focus strategy. it includes people from a variety of departments with different areas of expertise and responsibility. What type of promotional tool could be used if the company wanted to create consumer involvement and energy around a brand base? Which of the following best describes eBay's business model? According to a FLOC (Farm Labor Organizing Committee) analysis of 25 Mexican families, the mean income is$30,000, with a $10,000 sample standard deviation. **Required:** ________ is defined as a pathway for the flow of authority and connects the various groups and levels within the organization. $$ A service business c. Amerchandising business d. 2.An investment business Capital market stakeholders have aninterest in a company because: a. they depend upon the continuedsuccess of the company for keeping their jobs. Mass marketing differs from differentiated marketing in that mass marketing ________. lowest rate of interest that banks charge for short-term loans. The U.S. Department of Defense is the Sector Risk Management Agency for the Defense Industrial Base Sector. retained earnings decreased by $186,000 during the current year. Theocratic law, found in such as Iran and Pakistan, is based on ________. b. they. What type of business incorporates proactive CSR into the company's foundation, believing that a company should accomplish more than just making money for owners and investors? IRS figures show that, in 2008, the average revenue of a sole proprietorship ranged from approximately $11.9 thousand for unclassified establishments to $1.1 million for coal mines. ________ refers to determining the right quantities of supplies and products to have on hand and tracking where those items are. In your reasoning, explain the pros and cons of each approach. ________ is/are where criminals steal personal information and use it to commit other types of fraud. (b) Do you feel your sample is large enough to have a reliable empirical probability? A company strategy of providing fewer products and selling more of each of those products can lower production costs through ________. The chief downside of trade allowances is that they can lead to ________, in which the retailer buys a large quantity of a product when the price is low, thus reducing the producer's profit in the long run. This would be an example of ________. Direct marketing differs from advertising in that direct marketing ________. facilitate the buying and selling of stock. Which of the following can create ethically acceptable outputs by AI systems? taxes from the company. B. A deep and prolonged recession is known as ________. 13 \frac{1}{4}-5 \frac{3}{5} We reviewed their content and use your feedback to keep the quality high. Updated 4/26/2015 12:28:38 PM. This firm will be targeted by _____ enterprise resource planning ERP vendors. b. a. If this doesn't solve the problem, visit our Support Center . Price elasticity is a measure of the sensitivity of ________ to changes in price. Restart your browser. two companies from unrelated industries unite to become a single company (WRONG). Private limited companies pay corporation tax. Business Studies is one of the Commerce subjects that covers topics related to business, marketing, finance, economics, accountancy and organisational studies. The need to know how well one is doing compared to others around them is a motivational indicator of one's drive to ________. Use the significance level of.01. A service business c. A services or sell their products or services to the company. A manager demotes an employee who does not meet performance goals. According to the job characteristics model, experienced responsibility for results refers to ________. What is the term for the organized network of companies that work together to move goods and services from the manufacturer to consumers? Solve problems instead of moving them to another subsystem. c. balance sheet. company's internal processes meet accepted standards. What makes a great team player and is often an indication of management skills? Which of the following is a defining characteristic of a cross-functional team? Everything from sensor readings and financial transactions to photographs and Twitter messages are considered to be ________. Why should corporations be allowed to generate profits? Select one: A. cost of raw materials B. factory insurance C. depreciation on office furniture D. wages of assembly line workers This problem has been solved! 1.Which of the following businesses buys products from otherbusinesses to sell them to customers?a. Which of the following is a key difference between quality control and quality assurance? Nongovernmental organizations are usually ________. See the answer Which of the following is a part of manufacturing overhead? An employee's net (or take-home) pay is determined by gross wages minus amounts for income tax withholdings and the employee's This is an example of ________. and dividends of $54,000 during the current year. C) growth market is to a cost-based strategy. What key aspect of running a business includes the ability to offer valuable goods and services while contributing to society? First it must define its target markets and understand which of its products with each market's businesses and consumers. Costs of goods sold are accounted for in these costs. An operations manager is most likely to be responsible for ________, helping to promote products to retailers (WRONG). if physical observation can NOT be used to identify the exact amount of resources consumed by a cost . Grocery store - Merchandising Determine if each of the following businesses is an example of a manufacturing, service, or merchandising business. to provide reports to users about the economic activities and conditions of a business, to personally guarantee loans of the business, to provide information to external users to determine the economic performance and, to assess the various informational needs of users and design its accounting system to meet. Reducing the price of the product - by the time a product has reached maturity, it. Answer to Problem 1MC C. Providing intangible good and services Successful financial management starts with an outline of funds needed for a period of time, along with sources and intended uses of those funds, referred to as a(n) ________. Sales process. B2C 4. Curtiss cleaning of the carpet one time. A(n) ________ shows the relationship between the amount of product that buyers will purchase at various prices, all other factors being equal. ________ starts with reality and enhances the user experience by superimposing visual or textual information on it. 1. Which of the following will help identify the individual duties for each team member? Which of the following is the main objective of engaging in inventory control? Net income for the current year totaled $240,000. 4.A partnership is owned by two or more individuals. Some Enron executives were aware of the financial problems the company was facing and yet failed to reveal this information to the public. A product mix is ________ if it has several product lines. When an employee has perfect attendance for the month, he or she is given a $25 bonus. The ________ function of a business involves the recruiting, hiring and support of its personnel. the company can't sustain the low price levels profitably. Which of the following federal legislations limits a credit card holder's liability for unauthorized use? c. Total Enhanced meaning and connection for workers (WRONG). 3.Pelican, Inc. had revenues of $395,000, expenses of $155,000, 2 In fact, the National Association of Manufacturers (NAM) Manufacturers' Outlook Survey continues to find that "attracting . ________ refers to focusing on core competencies and letting other companies handle remaining business functions. operating, investing, and financing activities equals the end of When a manufacturer combines fabric, buttons, and zippers to create clothing, it creates ________. When team members understand the task, what is expected of them, and their role within in the team, they ________. To generate capital, the firm decided to use web technologies and digital resources to build long-term associations with current customers and to reach out to new customers. Break-even analysis is a method of ________. What is the advantage of franchising internationally? What Are Managerial Business Processes QuizletUsually, managers and supervisors will be ultimately responsible for the hiring of individuals, but the role of human resource management (HRM) is to define and guide managers in this process. Increasing the amount of damage awards (WRONG). If Fayad has How do unstructured organizations utilize digital technologies in a way that is different from structured organizations? ________ allows a firm to sell the rights for the use of a specific business system, including trade secrets and brand names. Of these 25 returns, five had charitable contributions of more than$1,000. To choose: The primary source of revenue for a service business. reconciliation statement. Which of the following refers to people and their individual talents and capabilities? Trike is in outstanding condition with new battery, brand-new LED headlight, and simply serviced. ________ is comprised of individual stock exchanges and the over-the-counter market that facilitates the buying and selling of company stock. b. In the 2019 Deloitte and MAPI Smart Factory Study, 8 connecting to an ecosystem was a hallmark of the Trailblazers, a cohort of manufacturers that was making great strides by adopting Industry 4.0 technologies to solve for specific business problems and opportunities. period cash reported on the balance sheet. employees dislike work and can be motivated only by the fear of losing their jobs or by extrinsic rewards. He has a portable stereo worth at least$800 and wants to take it to a pawnbroker. he application of economic and financial data and statistics (maybe). An HR specialist is most likely to be responsible for which of the following activities? interest in a company because: a. they depend upon the continued During the business analysis stage, a company ________. Operating expenses for February were $8,500 and Q&A The cost of goods sold for Frye Manufacturing in the year was $373,000. a. has one marketing mix for the entire market. Scroll through the list until you find the device you need to update. (c) If you had chosen a different DVD collection (say, your best friend's), would you expect $P(A)$ to be similar? A share is a portion or percentage of a company. An organization that doesn't have a conventional structure, but instead assembles talent as needed from the open market, is called a(n) ________ organization. Identify your decision based on personal standards of honesty and fairness. Which of the following is characteristic of a country with a planned economic system? 1. Penetration pricing doesn't work if ________. Which of the following is the simplest form of text translation? Individual systems within an organization are considered ________ of the overall business. ________ refers to a model suggesting that five core job dimensions influence three critical psychological states that determine motivation, performance, and other outcomes. General Motors A business in which goods are produced by converting raw materials purchased into finished ones is termed as a manufacturing business. Pune, Maharashtra. Which of the following is an advantage to the unstructured organization? Fayad Mehkta is insured under a disability policy that calculates his benefits 1Angola 2Libya 3Bangladesh 4Venezuela. Which of the following can be categorized as a good? ________ agreements entitle one company to use some or all of another firm's intellectual property in exchange for a royalty payment. b. A. Online retailing has two major advantages over traditional businesses: simplicity and very low start-up costs. Which of the following is a manufacturing cost? Factory overhead and burden are terms used as alternatives for the term __________ overhead. Three stages in the manufacturing process 1. establish a physical presence in multiple countries through foreign direct investment. minus the net income equals the end of period cash reported on the Which of the following refers to creating variations of an existing product? Explain why the hypergeometric distribution is appropriate. In what way is a bond market different than a stock market? (WRONG). Round answer to the nearest cent or tenth of a percent. Consumers have the right to buy safe products, and to buy them safely. How can a person improve the communication process when working with a person from another culture? All this being said, in 2017, the average manufacturing worker in the United States earned $84,832 annually. 2. ________ is used to extract meaning from text files. James is the owner of a small toy manufacturing company. Strategic management process is a method by which managers . $$. Which of the following is a characteristic of effective teams? ________ theory suggests that managers can motivate employees by shaping their actions through behavior modification. In a ________, two companies join to form a single entity either by pooling their resources or by one company purchasing the assets of the other. a. What does the customer value? One of the reasons online retailing firms have been so successful has been their ability to deal with customer complaints and provide personalized services more efficiently than traditional firms. Which of the following would be considered a product cost for a manufacturing business? With the ________ tactic, a third company is invited to acquire a company that is in danger of being swallowed up in a hostile takeover. If you had to decide to use either legislated standards or a pollution tax to reduce pollution, which would you choose? Which of the following best describes James' business practice? It is assembled to find ways of improving quality, efficiency, or other performance measures. Which of the following is one of the negative aspects of holding a position on a board of directors? pressuring businesses to consider consumer needs. Belief in your ability to complete a task is known as ________. They usually have fewer financial resources and fewer ways to get funds from lenders or investors. d. Portion of FICA taxes and any union dues. Special forces that motivate employees (WRONG). c. What is the probability at least one of the audited returns had a charitable contribution of more than$1,000? Which of the following is the bestdescription of accountings role in business? Under the sales process, the finished product or goods is sold to the customers which converts the finished goods . Lean thinking always starts with the customer. Manufacturing costs can be classified into three key categories: direct material costs, direct labor costs, and manufacturing overheads. ________ is/are the principles and standards of moral behavior that are accepted by society as right and wrong. According to Bruce Tuckman's model of team development, in the ________ stage, conflicts are resolved, and team harmony develops. the conversion of raw materials into finished products which will be sold at a price higher than the production costs, Three stages in the manufacturing process, the raw materials already processed but not yet completed, the work in process which has already been completed, the leftovers of materials resulting from the manufacturing process if they can still be sold or used for other purposes, the leftovers have no more value or cannot be used for any other purpose and will just be thrown away, finished goods that did not meet the required specifications and will just be sold as seconds at a much lower price than the good units, finished goods that can still be reworked to meet the required specifications, Production Costs/ Manufacturing Costs/ Factory Costs / Inventoriable Costs, these are the costs incurred to produce the product, these are the costs incurred to sell the products, these are costs incurred to run the business other than the production and selling costs, these are the costs incurred as a result of borrowing money, The selling costs, administrative costs and financing costs are considered as such, costs that tare subtracted from the income of the period, there are budgeted or projected costs and no cash outlay is involved, these are traceable or can be conveniently identified to a product, these are costs which are applicable to all products manufactured hence cannot be conveniently identified with a specific product, a cost which fluctuates or varies with the change in volume, a cost which remains constant or does not change regardless of a change in volume, are materials which can be identified or conveniently charged to a specific product, are materials necessary in the manufacturing process but cannot be conveniently identified with a specific product, refers to the wages of the factory workers, refers to the competition of the other employees in the production department other than the factory workers, Factory Overhead/ Factory Burden/ Manufacturing Expenses, these are the expenses incurred by the production department other than direct materials and direct labor costs, the production costs are all actual costs, the production costs are combination of actual and estimated costs, the production costs are all estimated costs, all the production costs are included in the cost of the product regardless of whether the item is a variable or a fixed cost, only the variable production costs are included in the cost of the product, - the 3 elements of production costs will be accumulated by jobs, - the 3 elements of production costs will be accumulated by processing departments, a branch of accounting that deals with the determination of the cost of goods manufactured and sold, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Daniel F Viele, David H Marshall, Wayne W McManus. And lean is a practice consisting of continuous experimentation to achieve perfect value with zero waste. Which of the following is a manufacturing business? Hidden costs and risks are rarely involved. unintentional performance limitations (WRONG). Unlike general philanthropy, strategic CSR ________. In ________, the salesperson recites or even reads a stock message with no regard for the customer's unique circumstances. Short-term financing is financing that will typically be repaid within ________. Fundamentals of Financial Management, Concise Edition. Which one of the following is true regarding the economic environment of business that shapes the behavior of buyers and sellers? 3. Advantages of small business ownership include independence and flexibilityin terms of location and opening hours of the business. c. they purchase the company's products or the end of the period assets will: a. equal liabilities and In a ________ organization, a manager usually has a wide span of management. ________ refers to measuring quality against established standards after the good or service has been produced and fine-tuning production to improve results. Most trading is done over the counter in a bond market. 2. The Magnuson-Moss Warranty Act (1975) requires complete written warranties in ordinary language and requires warranties to be ________. ledger account. ________ are estimates of future demand for a company's products. Part of. Management by objectives can eliminate the motivation of doing well for the sake of the work itself, resulting in ________. B) growth market is to a differentiation-based strategy. Goals set using the management by objective goal setting process should be directly linked to what? a. Which type of analytics finds patterns in numerical data? The sequence of activities that take the longest time from start to finish in a PERT diagram is called the ________ path. When a downward swing or recession is over, the economy enters into a period of ________. True False 2. Today, one of the most popular sales promotion tactics is ________, which gives the company visibility and helps it share in positive emotions of consumers. Which of the following is common when using a push marketing strategy that encourages intermediaries to carry new products? In ________ CSR, company leaders believe they have responsibilities beyond making a profit, and they back up their beliefs with actions taken on their own initiative. Which of the following is a manufacturing business? In ________, a salesperson acts as an advisor who helps current and potential customers find the best solutions to their personal or business needs. c. Portion of FICA taxes, unemployment taxes and any union dues \ The ________ is a fundamental driver of economic behavior because it influences short-term and long-term interest rates, foreign exchange rates, and inflation. Having a motivated workforce has a range of advantages, such as lower levels of absenteeism, retention of workers and low levels of staff turnover, improved relations between management and. A bear market is characterized by ________. Consumer purchasing differs from organizational purchasing in that consumer purchasing ________. ________ refers to publicity efforts that portray a company as being environmentally friendly when its actions indicate otherwise. Asset allocation is performed to ________. Transferring risk from one party to another. Solve. What type of unsecured loan has an agreed-on maximum a bank is willing to lend a business? A customers prepayment of $600 Pearson Motors has a target capital structure of 30% debt and 70% common equity, with no preferred stock. a.) c. Clothing producer - Manufacturer 2. Course Hero is not sponsored or endorsed by any college or university. the cost of a small amount of glue used to manufacture a product may be called multiple choice an indirect cost an overhead cost all of the choices are terms that may be used to describe small quantities of materials consumed in the process of making products product cost which of the following describes the flow of product costs in a empowering employees to look for ways to improve quality. d. Experts are tested by Chegg as specialists in their subject area. Emergency Services Sector ________ include all the elements and processes from transforming raw materials to making the final products available to the ultimate customer. b. they 1.Which of the following businesses buys products from other businesses to sell them to customers? The unemployment resulting because of this phenomenon is known as ________ unemployment. ________ refer(s) to intermediaries that sell products to other intermediaries for resale or to organizations for internal use. In a(n) ________, two companies create a new, third entity that then purchases the two original companies. D) technological innovation is to a cost-based strategy. Which of the following best describes the focus of expectancy theory? The risk and reward relationship ________. Because many customers are reluctant to buy foreign products if they cannot get service for the product, what functional strategy for international expansion should be considered? $$ 2.1 Distinguish between Merchandising, Manufacturing, and Service Organizations - Principles of Accounting, Volume 2: Managerial Accounting | OpenStax Uh-oh, there's been a glitch We're not quite sure what went wrong. In ________, the seller doesn't set a firm price. Then $P(A)=f / n$. Which of the following is an advantage to logging measured performance as work progresses in to a performance management system? Nurix Inc. is a business consulting firm. The main methods of financial motivation used in business are remuneration, bonuses, commission,. Assume a firm has the following costs: fixed costs: 400; selling price: 10 per unit; variable costs: 6 per unit; To calculate the variable cost, multiply variable cost per unit by number of . Which of the following is a s ervice business? When will the customer evaluate the product and decision-making process of a routine purchase? Terms in this set (266) The ________ function of a business involves the recruiting, hiring and support of its personnel. end of period cash reported on the balance sheet. A) broadly-defined target market is to a cost leadership strategy. d. b. they collect Find common denominators and subtract. General Motors B. American Airlines C. Target D. Facebook A Two common areas of accounting that respectively provide information to internal and external users are A. managerial accounting and environmental accounting B. managerial accounting and financial accounting An employee's rational and emotional commitment to his or her work is termed as ________. Which of the following is an unusual pricing method that allows customers to pay the amount they think a product or service is worth? The manufacturing approach in which part of the product is mass-produced and the remaining features are customized is known as ________. sheet because: a. the cash at the beginning of the period plus or The conditions that affect the cost and availability of goods, services and labor, and the behavior of buyers and sellers are BEST described as the ________ environment. reviews the sales, costs, and profit projections. The following are two methods that can help you update the driver for the wireless adapter on your ASUS . $$. The yield to maturity on the companys outstanding bonds is 9%, and its tax rate is 40%. Question. Contract manufacturing: Business model in which a firm hires a contract manufacturer to produce components or final products based on the hiring firm's design. Right-click (or double-click) the device and select Update Driver.To update your ASUS WiFi driver. 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