The development of a plan for converting a product idea into an actual product is called:
A) operational planning.
B) research and development.
C) product design.
D) design planning.
E) planning horizon.
Question 2 - The term _____ describe assets that can be quickly converted into cash or consumed in one year or less.
A) expenses
B) overhead costs
C) current assets
D) acid-test assets
E) fixed assets
Question 3 - Purina has a new product idea to create cat food that gives cats more energy and healthier joints. Management appoints a team to develop a plan for converting this idea into an actual product. This process is called:
A) design planning.
B) process engineering.
C) operational planning.
D) product lining.
E) product refining.
Question 4 - Which section of the statement of cash flows would show Wendy's payments for food ingredients and wages paid to employees?
A) Cash flows from operating activities
B) Cash flows from financing activities
C) Business cash flows
D) Non-business-related cash flows
E) Cash flows from investing activities
Question 5 - Hightower Company makes a product that is immediately consumed or enjoyed by customers at the time of production. Based on this information, what else is likely true about their product?
A) They measure quality by counting the number of rejects.
B) They produce a service, not a good.
C) Their product is manufactured, shipped, stored, and bought by consumers.
D) They utilize more materials than labor in the production process.
E) They produce a good, not a service.
Question 6 - What are the three activities according to which a statement of cash flows is organized?
A) Operating, selling, and investing
B) Financing, buying, and selling
C) Investing, financing, and expensing
D) Processing, operating, and receiving
E) Operating, investing, and financing
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