Practice Exam Chapter 1-3
1.The expression of what an organization wishes to accomplish and how it will serve its customers is contained in the
2. Anything for which management wants to accumulate or collect costs is known as a _.
TEST 1 TRUE OR FALSE
1. An internal sales forecast is based on the relationships that can be observed between the firms sales and
certain key economic indicators such as the gross domestic product, new housing starts, or disposable
Multiple Choice Identify the choice that best completes the statement or answers the question.
1. Which of the following replaces the retailing component "Purchases" in computing Cost of Goods Sold for a
a. cost of goods av
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