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Refer to the Scenario Below to Answer the Following Questions

question 44

Multiple Choice

Refer to the scenario below to answer the following questions.
First Business Trip to Asia (Scenario)
Jeff Elliott is on a flight across the Pacific and is excited about his first business trip to Asia. Born and raised in Alberta, Jeff is a manager for a rapidly growing Calgary-based company. His current mission is to scout out potential locations in Asia and develop an international expansion strategy for his company. There are many options, including maintaining the business's head office in Canada and sending over company representatives when necessary or developing a separate company in Asia and hiring locals to manage the business. Jeff's trip will take him to Japan, South Korea, Hong Kong, Taiwan, and China. He is looking forward to learning more about the business practices and customs of each country and is not too worried about the fact that he only speaks English. Jeff has heard that English is considered the main international business language, and he anticipates that most Asians will be able to speak it.
-If Jeff's company decides to open a completely new operation in China, tailoring the company to local customs and marketing strategies and hiring local managers, they would be considered a __________.

Definitions:

Ending Inventory

The final value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

FIFO

First-In, First-Out, an inventory valuation method where goods first bought are the first to be sold, assuming that the oldest inventory items are sold before newer ones.

Costs

The amount of money expended or resources used in the production of goods or in providing services.

Average Cost Method

An inventory valuation method wherein the cost of goods sold and ending inventory is determined by taking the weighted average of all purchases.