Which of the Following Is Least Likely to Be Considered

question 24

Multiple Choice

Which of the following is least likely to be considered a finite customer population?

• A) subassemblies in a just-in-time manufacturing environment
• B) fast food restaurant employees waiting to use the restroom
• C) planes waiting to take off at an airport
• D) a class of 10 students who might visit their professor during office hours
• E) cars taking Exit 76 off of a freeway during rush hour

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Definitions:

Credit Sales

Sales for which payment is not received at the time of purchase, allowing customers to pay at a later date, thereby creating receivables for the seller.

Cash Sales

Transactions where payment is made in cash at the time of purchase, without the extension of credit.

Inventory

The goods and materials that a business holds for the ultimate purpose of resale or production.

Accounts Payable

Refers to the amounts due by a company to its creditors for goods or services received that have not yet been paid for.