Which of the Following Statements Is NOT True About Product

question 8

Multiple Choice

Which of the following statements is NOT true about product recall?

• A)Any firm may one day face a product recall.
• B)A cross functional team should be designated as the recall program coordinator.
• C)To ensure that it is handled successfully,steps can be taken prior to recall.
• D)During the recall,safety risks should be assessed and corrective action taken.

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Definitions:

Credit Terms

Conditions under which credit is extended by a lender to a borrower, including payment periods, interest rates, and penalties for late payment.

Perpetual Inventory System

An accounting method that continuously updates inventory records after each purchase or sale.

Discount Period

The timeframe within which a payment can be made at a discounted rate, often used in sales transactions to encourage early payment.

Gross Profit

The financial metric that represents the difference between sales revenue and the cost of goods sold, excluding other expenses and overhead.