Two or More Companies That Find an Area of Collaboration

question 98

Multiple Choice

Two or more companies that find an area of collaboration and combine their efforts to create a partnership beneficial to both parties is a

• A)strategic alliance.
• B)modular organization.
• C)matrix organization.
• D)learning organization.

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Definitions:

Standard Cost

A predetermined cost that serves as a benchmark for evaluating actual production costs.

Actual Prices

The real prices at which transactions have occurred, as opposed to estimated or standard prices.

Inventory Accounts

Accounts used to track the costs of products purchased or produced for sale to customers until the products are sold.

Work in Process Inventory

Inventory that includes all the materials, labor, and overhead costs for products that are in the process of being manufactured but are not yet complete.