The price that reflects an individual's assessment of the value of a product is referred to as:
A. the market price.
B. the customer's negotiated price.
C. the base value of the product.
D. the customer's reservation price.
E. the profit growth price.
D
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What is the total carrying cost for an inventory of 200 widgets if the per-widget carrying cost is $4, the cost per order is $14, and there are 5 orders per year?
A) $400 B) $800 C) $870 D) $470
A corporation has been sued for product failures allegedly resulting in injuries to the individuals bringing the lawsuit
The company's lawyers believe it is more than remote, but less than probable, that the lawsuit will result in an actual liability. Which of the following actions should be taken by the company's management? A) The liability should be estimated and recorded as an expense. B) The situation should be described in a note to the financial statements. C) The possible liability should be ignored. D) Management should consider resigning.