Which of the Following Questions Are Addressed by an Effective

question 83

Multiple Choice

Which of the following questions are addressed by an effective sales presentation?

• A) What is the shareholding pattern of the board of directors of the organization?
• B) What is the estimated growth in sales of a product in the next quarter?
• C) What is the sales turnover ratio of the organization?
• D) What are the marketing strategies adopted by the company to ensure its sales?
• E) What is the value-added of the product?

Understand the concept of LIFO reserve and its financial implications.

Calculate inventory purchases and ending inventory amounts accurately.

Recognize the financial statement implications of inventory overstatement or understatement.

Apply the lower of cost or net realizable value (LCNRV) rule to inventory valuation.

---

Definitions:

Standard Cost

A predetermined or estimated cost of producing a product or service, used as a benchmark for measuring actual production costs.

Actual Production

The real quantity of products manufactured during a specific period, as opposed to planned or projected production.

Material Price Variance

The difference between the actual cost of materials and the standard cost, multiplied by the quantity of materials used.

Standard Unit Price

A predetermined or established cost that represents an expected or typical amount to be charged or incurred per unit of product or service.