An Important Characteristic of Affinity Groups Is That They Are

question 87

True/False

An important characteristic of affinity groups is that they are created informally by employees, not the organization, and membership is voluntary.

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Definitions:

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating the efficiency in managing stock levels.

Days' Sales

A metric that estimates the average length of time it takes for a company to convert its accounts receivable into cash.

Annual Reports

Comprehensive reports on a company's activities throughout the preceding year, intended to give shareholders and other interested parties information about the company's performance and financial standing.

Perpetual Inventory System

A method of inventory management where adjustments to inventory accounts are made continuously as transactions occur.