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Stichworte: Finished goods inventory
What is the process of making a raw material into a finished product quizlet?
In a(n) ??? ???, goods and services are produced the way they have always been produced.
What is a highly coordinated activity that delivers goods and/or services when they are needed?
Which theory explains that a country can produce goods at cost efficient cost?
When individuals come together to buy and sell goods and services they form a?
Is the management of system or processes that create goods or provide services?
What concept represents the number of goods and services available for consumption at different prices?
Which of the following is the most significant factor affecting the international market for industrial goods and services?
In what account are purchases recorded when the periodic inventory system is used?
When a society is producing the mix of goods that the society wants to consume it is said to have?
The balanced scorecard approach attempts to maintain as little inventory on hand as possible
Is an organizational approach involving all employees to satisfy customers by continually improving goods and services?
Manufacturers usually classify inventory into all the following general categories except:
Companies that sell goods to consumers online are engaging in transactions quizlet
The increase in the overall price level of goods and services produced in an economy.
The goods used in the production process such as factories, machinery and equipment
Which theory suggests that a country should produce and export those goods and services for which it is relatively?
A journal entry that debits Finished goods and credits Work in process records the
What type of inventory control system is typically used in a staple merchandise category?
When higher volumes of more standardized goods or services are needed repetitive processing is used and the standardization process is generally high?
Which of the following statements about the inventory cost flow assumptions is true
How substitute and complementary of goods influence demand of a consumer explain?
Which of the following items is not used when calculating the cost of goods manufactured?
Which U.S. government agency controls most goods exported from the United States?
Which of the following cost of conversion cannot be included in cost of inventory
Before inventory purchases are recorded, the receiving report should be reconciled to what documents
Which inventory method results in the highest net income during periods of rising prices
For which type of inventory would it be least logical to use the specific identification method?
If less inventory is sold than manufactured absorption costing decreases net income
When the goods are sold their costs are transferred from work in process to finished goods True or false?
If the inventory cost is $18,000 and the market value is $20,000, then the company should ______.
Which inventory costing methods are based on assumptions that accountants make about the flow of inventory costs?
1&2 Prepare a statement of cost of goods manufactured and calculate cost of goods sold
When goods and services are sold on the Internet the approach to marketing is known as?
As inventory and ppe assets on the balance sheet are consumed, they are reflected:
According to Littles law, which of the following can be used to estimate inventory
Calculate the value of the closing inventory of product B using absorption costing
With respect to goods and services control has transferred to the customer if the customer
Societies characterized by a reliance on mechanized labor to create material goods
Generally accepted accounting principles (gaap) require that inventory be recorded at
Under the perpetual inventory system which journal entry would indicate a purchase of merchandise
If ending inventory and cost of goods sold are added together, they should equal gross profit
When goods are shipped fob destination and the seller pays the freight charges, the buyer
What account is debited for the acquisition of merchandise for resale in a perpetual inventory system?
When inventory costs are rising, this method yields the highest cost of goods sold.
Operating expenses are classified into two categories: selling expenses and cost of goods sold.
What is the process of managing the flow of goods from the source of supply to customers through efficient movement of logistics?
The higher the inventory velocity the more satisfied the companys customers will be
Under variable costing, the profit for a period is not affected by changes in inventory
When raw materials are issued into production the raw materials account is debited?
When increase in the price of one good causes an increase in demand for the other the goods are?
What is an organization that seeks profit by providing goods or services to others?
Which factors are considered when deciding how to make goods and services? choose three answers.
What provide the resources needed by the company to produce its goods and services?
Because the united states imports more goods than it exports, it operates under a(n)
Which inventory costing most closely approximates current cost for ending inventory?
Do utility created by converting production inputs into finished products is called?
What are digital goods and how does the Internet impact the market for digital goods
What is the most reliable way to assess pain in a patient who is cognitively intact?
What is the social institution that organizes the production distribution and consumption of a societys goods and services quizlet?
Help companies stock and move goods from their points of origin to their destinations
Explain the effect of a rise in the price of related goods on the demand for a good X
Which inventory account would include a product that is complete and waiting to be sold?
What kind of goods are X and Y if a rise in the price of X increases the demand for Y?
Logistics is the work required to move and position inventory throughout a supply chain
What makes the search for shopping goods different from the search for specialty goods?
Which system is able to create purchase orders manage inventory and forecast future inventory needs?
Is the paid presentation and promotion of ideas goods, or services by an identified sponsor in a mass medium?
Which management focuses on the transformation process of input and raw materials into finished products?
What are the three costs that are added to Work in Process accounts of a manufacturing company?
Which information would not be needed to determine inventory based on the retail method?
Refers to the degree to which goods and services conform to the intent of the designers.
What is the amount for the sale of goods to be in writing under the NJ statute of frauds?
What goods are similar in quality but different enough in price to justify shopping comparisons
The level of inventory of a manufactured product has increased by 5,000 units during a period
What is the term used for the bundle of goods and services that are provided in some environment by every service operation quizlet?
What type of retailer is a superstore that dominates a market with narrow but deep assortment of goods?
What are the three inventory accounts used to record manufacturing cost in what order are these accounts used?
Is the exchange of capital goods and services across international borders or territories and involve the activities of the government and individual?
Which of the following inventory method reports most closely the current cost of inventory?
Which inventory costing method most closely approximates current cost for cost of goods sold?
Which inventory method will result in the lowest reported net income during periods with rising costs group of answer choices?
What is the difference between the conventional retail inventory method and the cost method?
When applying lower of cost or market method to inventory valuation market is defined as current replacement cost?
Which of the following is a reason human resources might keep a skill inventory of employees
For the receiving department, transferred in goods are added at the __________ of the process.
What term is used to refer to the cost that are indirectly associated with the manufacture of the finished product?
Cost of goods manufactured is to a manufacturing enterprise as is to a merchandising enterprise
Which of the following is defined as the flow of goods and services among different countries?
The amount of goods for resale to be acquired from suppliers during the period is shown on the
A study comparing smokers’ and nonsmokers’ scores on a personality inventory is most likely to be
Goods appeal to consumers who are willing to make an extra shopping effort to acquire them.
How a particular society distributes its resources to produce goods and services describes a n system?
A consumer consumes good x explain the effect of fall in prices of related goods on the demand of X
What is the rate at which goods and services are produced based upon total output given total inputs?
Which type of crime involves a business operation that supplies illegal goods and services?
Is the process of getting the right product in to a facility at the right time and place plus the amount of goods at the right price?
Which of these describes individuals that want goods and services for personal consumption and have the resources to buy them quizlet?
Which of the following describes individuals that want goods and services for personal consumption and have the resources to buy them group of answer choices?
Which refers to the number of goods that producers are willing and able to sell at different prices?
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