One of the Ways in Which a General Manager Creates

question 49

Multiple Choice

One of the ways in which a general manager creates value for the organization is by

• A) establishing effective working relationships with the media
• B) identifying emerging opportunities for the organization
• C) meeting the requirements of the regulators for full disclosure
• D) sponsoring community-based charitable fund raising initiatives

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Definitions:

Perpetual Inventory System

A system for tracking inventory accounting that instantly logs each sale or acquisition of inventory through computerized point-of-sale systems and software for managing enterprise assets.

LIFO

A rephrased definition: An accounting approach to inventory and cost of goods sold valuation that assumes the most recently acquired items are the first to be sold.

Ending Inventory

The value of goods available for sale or use at the end of an accounting period.

Net Realizable Value

The projected sales price of products subtracted by the cost associated with their sale or disposal.