Convenience in a Supply Chain Refers to the Concept That

question 298

Multiple Choice

Convenience in a supply chain refers to the concept that

• A) there should be a minimum of effort on the part of the buyer in doing business with the supplier.
• B) all products or services should be available 24 hours a day, 7 days a week, and 365 days a year.
• C) all tasks required to make an exchange are the sole responsibility of the supplier.
• D) an exchange requires equal effort by both the buyer and supplier.
• E) all logistical services are provided by a supplier network.

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Definitions:

Credit Portion

Refers to the part of a financial transaction that is recorded as a credit in the accounting records, increasing liabilities or decreasing assets.

Revenue Recognition Principle

An accounting principle that dictates the conditions under which revenue is recognized and determines how revenue is accounted for.

Revenue Account

An account that tracks the income generated from a company's primary operations.

Matching Principle

An accounting concept that expenses should be recorded in the same period as the revenues they helped to generate.