One of the Benefits of EDI Is That It Can

question 51

Multiple Choice

One of the benefits of EDI is that it can reduce lead time,which is

• A) the time between the decision to place an order and the receipt of the merchandise.
• B) the time from when an RFP is announced to the time a consumer purchases the finished product.
• C) the time from when funds are committed for purchase of raw materials to the time when the payment for the finished goods is actually received.
• D) the time between when finished goods leave the manufacturer and when they arrive,floor-ready,at the retailer.
• E) the time between when an item is sold to a customer and when a replacement is made available for purchase by another customer.

Learn how to calculate the cash flow on total assets ratio.

Preparation of a complete statement of cash flows using the direct method.

Understand the distinction between noncash financing and investing activities.

Understand how the indirect method adjusts net income for operating cash flows.

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Definitions:

Normative Influence

The impact others have on our behavior through norms or behaviors that are deemed acceptable by a group, leading individuals to conform in order to be liked or accepted.

Solomon Asch

A prominent psychologist known for his research on conformity, including his famous experiments demonstrating how people could be influenced to contradict their own accuracy for group consensus.

Halo Effect

The cognitive bias where the perception of one positive trait (such as attractiveness) leads to the unfounded assumption of other positive traits, such as intelligence or morality.

Rarity Principle

A concept in economics and marketing suggesting that rare or scarce items are perceived as more valuable.