Technician a Says Computer Databases Are Used to Input and Retrieve

question 115

Multiple Choice

Technician A says computer databases are used to input and retrieve customer information for billing, warranty work, and other information. Technician B says that dealerships have access to manufacturer databases for the purpose of accessing warranty information. Who is correct?

• A) Technician A
• B) Technician B
• C) Both A and B
• D) Neither A nor B

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Definitions:

LIFO

"Last In, First Out," an inventory valuation method where the last items purchased are the first sold.

FIFO

"First-In, First-Out," an inventory valuation method where the costs of the earliest items purchased or produced are the first to be expensed.

Cost Of Goods Available

The total cost of inventory that a company has available to sell at any given time, calculated by adding the beginning inventory to the cost of goods purchased or manufactured.

FOB Destination

Freight terms indicating that the seller places the goods free on board to the buyer’s place of business, and the seller pays the freight.