Mod2Quiz.docx - Question 1 Correct 1.00 points out of 1.00 Question text Thomas Friedman a New York Times journalist and Pulitzer Prize winner has

Mod2Quiz.docx - Question 1 Correct 1.00 points out of 1.00...

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Question 1 Correct 1.00 points out of 1.00 Question text Thomas Friedman, a New York Times journalist and Pulitzer Prize winner, has suggested that "the world is flat." Why does he conclude this is true? (Select all that apply.) Select one or more: a. Improved technology has enabled businesses and people to compete on a global basis b. Barriers to competition have decreased or been eliminated c. The conclusion is based on a narrow view of the world that is limited to the metropolitan New York City area d. Many firms' competitors do not have direct access to the firms' market area Feedback The correct answers are: Improved technology has enabled businesses and people to compete on a global basis, Barriers to competition have decreased or been eliminated Question 2 Correct 1.00 points out of 1.00 Question text Jack is planning to open an auto repair shop in Los Angeles. His specialty will be the repair and replacement of automobile mufflers and general maintenance of high-end foreign automobiles. Long-term objectives include the potential to establish a chain of these shops. He is concerned that replacement parts for some of the automobiles may be hard to get and is considering his supply chain. A Japanese firm has offered pricing that is significantly less than what a Michigan-based firm has offered. What advice would you give him? Select one: a. He should take the less costly proposal as that would increase his profits b. He should do business with the Michigan firm because that will help the US economy c. He should consider the measure landed cost of both proposals d. He should check with UPS, FedEx, and similar carriers to analyze shipping costs for these materials Feedback The correct answer is: He should consider the measure landed cost of both proposals Question 3
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Correct 1.00 points out of 1.00 Question text What is "measure landed cost" of a product? Select one: a. The price of the good plus appropriate sales tax b. The cost of goods sold for the product c. The most economical pricing structure offered by a firm d. The cost structure that accounts for all variable costs associated with a product Feedback The correct answer is: The cost structure that accounts for all variable costs associated with a product Question 4 Correct 1.00 points out of 1.00 Question text ABC Company rents a warehouse facility that is slightly over 13,000 square feet of floor space. When they consider the cost of goods sold, their accountant wants to consider this a fixed cost and spread it over the volume of all products sold. What advice would you give them? Select one: a. The accountant is right because the rent will not vary based on the number of goods they store at the facility b. This is a variable cost because the amount of inventory stored at the location is going to vary c. This cost should not be counted when they consider the overall cost of goods sold d. The accountant should move this cost to a separate ledger and not consider this when calculating the general cost of goods sold Feedback
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  • Spring '12
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