Carol Was Recently Fired from Her Job as a Purchaser

question 135

Multiple Choice

Carol was recently fired from her job as a purchaser for a grocery store.She was told the reason for her dismissal was the almost continuous rotting of large amounts of vegetables and meat while in the stockroom awaiting sale in the store.Which objective of purchasing did Carol fail to accomplish?

• A) She failed to make sure the materials needed were in the proper amounts.
• B) She failed to secure the needed materials at minimum cost.
• C) She failed to obtain the materials needed before they were needed.
• D) She ordered the wrong materials for her company.
• E) She failed to purchase the best quality of materials available.

Understand the process for recording the disposal of fixed assets including the role of accumulated depreciation.

Distinguish between the accounting treatment of tangible and intangible assets, including amortization and research and development costs.

Identify the characteristics of fixed assets and understand how they are used within operations.

Understand the accounting treatment and recognition criteria for goodwill and other intangible assets.

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Definitions:

Self-Control

Self-Control is the ability to regulate one's emotions, thoughts, and behaviors in the face of temptations and impulses.

Uniqueness

The quality or state of being one of a kind or unlike anything else.

Social Rejection

The experience of being deliberately excluded or ostracized by individuals or groups within a social context.

Hurt My Feelings

An expression indicating that someone's actions or words have caused emotional pain or distress.