Which of the Following Is/are Not a Primary Value Activity

question 53

Multiple Choice

Which of the following is/are not a primary value activity?

• A)outbound logistics
• B)inbound logistics
• C)technology development
• D)marketing and sales operations

Recognize the documentation used in the purchasing process and their purposes.

Understand the effects of buying and returning merchandise on financial statements.

Appreciate the differences between the perpetual and periodic inventory systems.

Identify the types of accounts affected by the purchase and sale of merchandise.

---

Definitions:

Implied-in-Fact Conditions

Terms and conditions in a contract that are not expressly stated but can be inferred from the nature of the agreement and the actions of the parties involved.

Literally Occur

An event or action that takes place exactly as described or indicated without metaphor or exaggeration.

Agreement

A mutual understanding or arrangement between two or more parties outlining their respective rights and duties.

Novation

Novation is the legal act of replacing an existing obligation with a new one, substituting a new party or obligation into an original contract.