In Rapidly Changing Industries or Those Where Purchased Goods and Services

question 46

Multiple Choice

In rapidly changing industries or those where purchased goods and services comprise a _____ portion of product or service costs, management usually recognizes the need to place purchasing in a _____ position in the organizational hierarchy.

• A)smaller….higher
• B)larger….lower
• C)larger….higher
• D)median….lower
• E)There is no relationship between the level of purchases and the placement of purchasing in the organizational hierarchy.

Comprehend how cycle time is calculated and its components.

Identify and explain the components of manufacturing costs.

Distinguish between different types of expenditures in accounting.

Recognize strategies to improve operational efficiency through cycle time reduction.

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Definitions:

Audition

A trial performance by an actor, singer, musician, or dancer to demonstrate suitability for a role, part, or position.

Prospective Cohort

A research study that follows a group of individuals over time to determine how their exposures affect their outcomes.

Retrospective Cohort

A study that looks back at a group of individuals who share a common characteristic or experience over a certain period to assess the effect of certain variables on outcomes.

War Injury

Physical or psychological harm caused to individuals as a result of armed conflict.