A Farmhand Would Like to Buy a Moped Scooter to Commute

question 130

Multiple Choice

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

• A)There are not two or more parties with unsatisfied needs.
• B)A desire to satisfy a need is missing.
• C)No assessments of consumer wants and needs have been made.
• D)There is no way for the parties involved to communicate.
• E)The ability to satisfy a need is missing.

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Definitions:

Cost Reconciliation

The process of verifying and reconciling the total cost incurred against the costs accounted for in a specific period.

Weighted-Average Method

an inventory costing method that assigns a cost to inventory and to the goods sold based on the average cost of all similar items available during a certain period.

Work in Process Inventory

The value of raw materials, labor, and overhead costs for products that are partially completed but not yet ready for sale.

Transferred Out

In a process costing environment, it refers to goods that have been completed in one department and moved to the next stage in the production process.