____________________ Decisions Are Short Term and Affect Only Daily Operations;for

question 52

Short Answer

____________________ decisions are short term and affect only daily operations;for example,deciding to change the price of a product to clear it from inventory.

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Definitions:

Capital Balances

This term refers to the amounts of money partners in a partnership have contributed or that represents their share of ownership.

Replacement Cost

The current cost of replacing an asset with a similar new asset in terms of capability and function.

Inventory

The total amount of goods and materials held by a company for the purpose of resale or production.

Partnership

is a legal form of business operation between two or more individuals who share management and profits.