A Useful Way to Identify a Company's Resources Is to View

question 22

Multiple Choice

A useful way to identify a company's resources is to view them as

• A) divided into two main categories, tangible and intangible.
• B) productive inputs or competitive assets, except human assets and intellectual capital, which are considered capabilities or competencies.
• C) physical resources, such as the company's brand, image, and reputation assets.
• D) an inventory or a collection of the firm's strengths, weaknesses, opportunities, and threats.
• E) intangible resources such as patents, copyrights, and technological processes.

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Definitions:

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all units available for sale.

Conversion Cost

Direct labor cost plus manufacturing overhead cost.

Fitting Department

A specific section within a manufacturing facility where products are assembled, fitted, or finished according to specifications.

Weighted-Average Method

A cost-flow assumption used in inventory and cost of goods sold calculations that averages the costs of all similar goods available during the period.