The following are all functions of a chief information officer (CIO) EXCEPT ________
A) creating business opportunities
B) overseeing the accounting office
C) processing information
D) updating computer systems
E) balancing the benefits of technology against the costs
B
Explanation: B) A chief information officer is responsible for creating business opportunities enabled by technology, improving the processing of information, updating computer systems, and balancing the benefits of technology against its cost. Although a CIO is responsible for managing the IT budget, the CIO is not responsible for overseeing the accounting office.
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The broker receives an earnest money deposit with a written offer to purchase that includes a ten-day acceptance clause. On the fifth day, before the offer is accepted, the buyer notifies the broker that she is withdrawing the offer and demands the return of her earnest money deposit. In this situation
A) the buyer cannot withdraw the offer because it must be held open for the full ten days. B) the buyer has the right to revoke the offer at any time until it is accepted and recover the earnest money. C) the seller and the broker have the right to each retain one-half of the deposit. D) the broker declares the deposit forfeited and retains it for his services.
The optimal safety stock level is the quantity of safety stock that minimizes the sum of the annual relevant ________
A) stockout costs and carrying costs B) ordering costs and carrying costs C) ordering costs and stockout costs D) ordering costs and purchasing costs