What Does SCM Try to Reduce

question 24

Multiple Choice

What does SCM try to reduce?

• A) Cost and delivery time
• B) Billing cycles
• C) Time to resupply
• D) Geographic area covered

Calculate current asset and liability totals from given account balances.

Prepare financial statements from adjusted trial balance data.

Understand the process and purpose of reversing entries.

Analyze trial balance data for adjustments and closing.

---

Definitions:

GAAP

Generally Accepted Accounting Principles, which are a set of rules and standards designed to improve the clarity, consistency, and comparability of financial reporting across industries.

Insider Trading

The illegal practice of trading a company's stock or other securities by individuals with access to non-public, material information about the company.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide how financial statements are prepared and presented globally.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States.