An Error in the Ending Inventory for the Year Ended

question 41

Multiple Choice

An error in the ending inventory for the year ended December 31,2016:

• A) automatically creates errors in cost of goods in the 2016 and 2017 financial statements
• B) has no effect on the 2016 financial statements but will create an error in the 2017 financial statements
• C) automatically creates errors in the ending inventory balance in the 2016 and 2017 financial statements
• D) affects only the 2016 financial statements

Applying the theory of constraints and throughput accounting in operational decisions and productivity improvement.

Understand the main differences between modern and traditional approaches to cost management.

Comprehend the concept of business process re-engineering and its impact on cost and quality improvements.

Understand the basic concepts and types of e-commerce transactions.

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Definitions:

Computer Simulations

The use of computer programs to model real-world processes or systems for study, training, or analysis.

Soft-skills Training

The development of personal attributes that enable someone to interact effectively and harmoniously with other people.

Design Factor

Elements that influence the effectiveness, functionality, and aesthetic appeal of a product, service, or system.

Brand Image

The perception of a company or product by the public and how it is distinguished from competitors.