A ______________ Represents a Change in the Organisation's Product or Service

question 71

Multiple Choice

A ______________ represents a change in the organisation's product or service outputs,whereas a ___________ pertains to the organisation's production processes.

• A) technology change; product change
• B) product change; technology change
• C) performance gap; technology change
• D) product change; performance gap
• E) None of these choices.

Understand the recording of sales returns and allowances.

Distinguish the operating cycles and financial reporting between service and retail businesses.

Know how the cost of merchandise sold and inventory costs are determined and reported.

Understand how sales, operating expenses, and net income are related in a merchandise business.

---

Definitions:

Big Five Trait

A model proposing five broad dimensions of personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Conscientiousness

A personality trait characterized by organization, responsibility, and thoroughness.

Big Five Traits

A theoretical framework for personality that defines five major traits of human personality, including openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Lexical Hypothesis

The theory suggesting that the most important features of human personality are captured by the language that we use to describe people.