In Point Estimation

question 63

Multiple Choice

In point estimation

Understand the concept and benefits of digital tools in supply management, such as online catalogs, EDI, e-procurement systems, and extranets.

Comprehend the importance of efficient and effective supply processes and the impact of poor performance on the organization.

Recognize strategies to manage and expedite orders, including understanding of blanket purchase orders and vendor/supplier managed inventory systems.

Identify the significance of internal compliance and trust in the supply process.

Definitions:

Temporary Differences

Differences between the tax base of an asset or liability and its carrying amount in the balance sheet that will result in taxable or deductible amounts in the future.

Interperiod Tax Allocation

The accounting technique that allocates income tax expense to the appropriate periods, smoothing out tax charges related to temporary differences.

Book Income Tax Expense

The income tax expense reported in the financial statements, calculated based on the accounting standards and not necessarily the tax code.

Future Income Tax Rates

Future income tax rates refer to the expected rates at which earnings will be taxed in future periods, relevant for future tax planning and deferred tax calculations.