All of the Following Are Examples of How Supply Management

question 56

Multiple Choice

All of the following are examples of how supply management should monitor and anticipate activity in its supply market except ____.

• A) ensuring that cost accounting keeps track of historical prices paid
• B) forecasting long-term supply and prices for its basic commodities
• C) mentoring technological innovations that impact its primary materials or make substitute materials economically attractive
• D) evaluating other potential suppliers as well as existing suppliers
• E) providing visibility to new product requirements

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Definitions:

FIFO Cost

First-In, First-Out cost method; an inventory valuation strategy where the costs of the earliest goods purchased are the first to be recognized in cost of goods sold.

Disclosure

The act of making information known publicly, especially financial information by a company to comply with legal requirements and inform investors.

LIFO

Last In, First Out, an inventory valuation method where the goods last added to inventory are the first to be sold.

Periodic

Pertaining to or occurring at regular intervals.