When a business doesn't have control of all the environmental forces, it is called __________ design. For example, Acme Medical relies on predictions and contingencies to cope with unexpected input. Last year, an influenza epidemic affected suppliers, personnel, and even customers, causing lost production and lost profit.

If the expected return were above the required return, investors would buy an asset, driving its price up and its expected return down

Indicate whether the statement is true or false

(10 min) Job order costing, process costing

In each of the following situations, determine whether job costing or process costing would be more appropriate. a. A CPA firm l. A landscaping company b. An oil refinery m. A cola-drink-concentrate producer c. A custom furniture manufacturer n. A movie studio d. A tire manufacturer o. A law firm e. A textbook publisher