Hiring Others to Perform Some of the Noncore Activities and Decision

question 17

Multiple Choice

Hiring others to perform some of the noncore activities and decision making in a company's value chain,rather than having the company and its employees continue to perform these tasks is:

• A)offshoring.
• B)outsourcing.
• C)supply chain management.
• D)subcontracting.
• E)joint-venture.

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Definitions:

Physical Count

A method used in inventory management to ensure the actual number of physical goods matches the recorded inventory.

Inventory

The raw materials, work-in-progress goods, and finished products that a business holds for the purpose of sale in the ordinary course of business.

Single-Step Income Statement

A simplified income statement that calculates net income or loss by subtracting total expenses from total revenues in one step.

Multiple-Step

An income statement format that segregates operating revenues and expenses from non-operating revenues, expenses, gains, and losses.