The size of consumer markets in most countries exceeds that of business markets
Indicate whether the statement is true or false
a. True
b. False
ANSWER: False
The size of business market in the United States and most other countries substantially exceeds that of the consumer market. In business markets, a single customer can account for a huge volume of purchases.
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In the first step in developing an activity-based costing system, the management team must think about how each activity for a product or service might be improved or whether is it necessary at all
Indicate whether the statement is true or false
Special items will generally be purchased on the basis of a quotation. The purchasing agent will
select on the basis of: A) the most reliable bidder. B) the preference of the department that will use the item. C) the lowest price. D) consideration of all of the above.