The Process of Coordinating and Integrating the Flow of Materials,information,finances,and

question 5

Multiple Choice

The process of coordinating and integrating the flow of materials,information,finances,and services within and among companies in the value chain from suppliers to the ultimate consumer is often referred to as

• A) offshoring.
• B) international strategy.
• C) outsourcing.
• D) supply chain management.
• E) logistics.

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Definitions:

Manufacturing Costs

The expenses involved in producing goods, including labor, materials, and overhead.

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including direct materials, direct labor, and manufacturing overhead.

Income Summary Account

An account used in the closing process that summarizes the revenues and expenses of a period, ultimately transferring the net income or loss to retained earnings.

Accounting Period

The time span for which financial statements are prepared, typically a year, a quarter, or a month.