To Be Effective in Deciding Whether to Use Individual, Consultative

question 73

Multiple Choice

To be effective in deciding whether to use individual, consultative or group decision methods for a particular situation, team leaders must:

• A) have competent and motivated group members.
• B) understand the assets and liabilities of group decision making.
• C) know how to solve problems better than any of the team members.
• D) All of the options listed
• E) None of the options listed

---

Definitions:

Inventory Costing

Inventory costing is the method used to value inventory, including techniques such as FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and weighted average cost.

First-In, First-Out

An inventory valuation method where items acquired or produced first are sold or used first, assuming the oldest inventory is disposed of before newer inventory.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are a significant portion of the production cost.

Materials Equivalent Units

A measure used in process costing that represents the amount of materials put into production, adjusted for any unfinished work.