Competition in the Global Market Has Helped U

question 70

Multiple Choice

Competition in the global market has helped U.S. companies

• A) become efficient and productive.
• B) lower their production standards.
• C) hire lower wage employees.
• D) expand beyond the U.S.

Understand the process for hiding macro actions and the impact on readability and security.

Discern how to use properties in If statements for conditional logic in macros.

Know how to create and use action queries in Access.

Understand the purpose and use of standard modules available to objects in Access.

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Definitions:

Cost of Goods Sold

An accounting term denoting the direct costs attributable to the production of goods sold by a company.

FIFO

"First In, First Out," an inventory valuation method where the goods first added to inventory are the first to be sold.

Gross Profit Method

An estimating technique used to calculate inventory cost, based on the gross margin and cost of goods sold.

Gross Profit Ratio

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold; it is calculated by dividing gross profit by net sales.