Which of the Following Is the BEST Example of Management

question 188

Multiple Choice

Which of the following is the BEST example of management thinking during the "production era"?

• A) "The more we advertise a product, the more we can sell."
• B) "We need to increase our sales effort-to sell what we can produce."
• C) "If we can produce it, customers will buy it."
• D) "We need to be selective and produce what customers want."
• E) "The lower we price a product, the more we can sell."

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Definitions:

Journal Entry

A record in accounting that notes the debit and credit transactions affecting the balance sheet and income statement.

LIFO Method

Last-In, First-Out is an inventory valuation method where the most recently produced or acquired items are the first to be expensed.

Journal Entries

Records in accounting that document every financial transaction a company makes.

Cost of Goods Sold

The cost of goods sold (COGS) measures the direct costs associated with the production of goods sold by a company, including material and labor expenses.