The First Procedural Language Was ____

question 37

Multiple Choice

The first procedural language was ____.

• A) FORTRAN
• B) COBOL
• C) Pascal
• D) C++

Identify customer costs and how they impact market levels.

Understand just-in-time (JIT) purchasing philosophy and its implications for supplier relationships.

Define and calculate lead time in supply chain management.

Comprehend the mechanics and applications of backflush costing systems.

---

Definitions:

Cover

In the context of contracts, the act of seeking a substitute fulfillment of a contract, for example, purchasing goods from a different supplier if the original supplier fails to perform.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law of sales and other commercial transactions across state lines.

2-712

Pertains to the Uniform Commercial Code (UCC), specifically the section regarding "Cover" and the buyer's right to procure substitute goods.

Liquidated Damages

A predetermined sum agreed upon in a contract, to be paid as compensation if one party breaches the agreement.