Victor, an Administrative Assistant in Accounting, Orders Office Supplies Biweekly;

question 21

Multiple Choice

Victor, an administrative assistant in accounting, orders office supplies biweekly; today he needs pens, sticky notes, and staples. He looks at the office supply catalog and quickly picks a selection for each that is priced acceptably. Here Victor is using

• A) Minimizing.
• B) Optimizing.
• C) Satisficing.
• D) Management by exception.
• E) Maximizing.

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Definitions:

Inventory Levels

Refers to the quantity of goods available for sale and use by a business at any given time.

Bank Service Charge

Fees charged by banks for handling transactions, maintaining accounts, and providing other financial services.

NSF Cheque

A check that cannot be processed because the writer's account lacks sufficient funds, standing for Non-Sufficient Funds.

Bank Error

An error made by a bank in the accounting records or transactions of a customer's account.