The Primary Advantage of Both the Product and Customer/regional Approaches

question 109

True/False

The primary advantage of both the product and customer/regional approaches to departmentalization is the ability to focus on customer needs and provide faster, better service.

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Definitions:

Perpetual System

Perpetual System is an inventory tracking system where inventory and cost of goods sold are updated continuously with each sale or purchase.

Accounts Payable

Accounts payable represent a company's obligation to pay off a short-term debt to its creditors or suppliers, often arising from the purchase of goods or services on credit.

Merchandise Inventory

The value of a company's commodities or goods available for sale to customers at any given time.

Periodic Inventory System

An inventory accounting system where updates are made on a periodic basis, not continuously, often used in smaller businesses.