Sally,Greg,John,and Amar Are Working on a Project for a Customer

question 36

Multiple Choice

Sally,Greg,John,and Amar are working on a project for a customer that is aimed at cutting the client's electrical costs.The four members are located throughout the Midwest,and they are utilizing the phone,e-mail,and collaborative computing to complete this project.This is an example of a _____.

• A)modular group
• B)cross-focus group
• C)geographic team
• D)matrix team
• E)virtual organization

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Definitions:

Equivalent Units

A concept in cost accounting used to assess work-in-process inventory by converting partial units into a number of equivalent full units.

Ending Inventory

The worth of merchandise ready for purchase at the close of a financial period, determined by adding purchases to the initial inventory and then subtracting the cost of goods that were sold.

First-In, First-Out Method

An inventory valuation method where the earliest items added to inventory are the first ones considered sold.

Equivalent Units

A measure used in process costing that converts partially completed goods into an equivalent number of fully completed units.