Which of the following is most likely to be a characteristic of an organization pursuing a cost-minimization strategy?
A) lack of tight control
B) wide span of control
C) low work specialization
D) high centralization
E) low formalization
D
Explanation: D) An organization pursuing a cost-minimization strategy tightly controls costs, refrains from incurring unnecessary expenses, and cuts prices in selling a basic product. It is characterized by extensive work specialization, high formalization and high centralization.
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If cost is _____ than NRV, no adjusting entry is needed. Inventory already is recorded at cost at the time it was purchased, and this cost is _____ than total NRV at the end of the period.
Fill in the blank(s) with the appropriate word(s).
Mature products with stable demand are usually the most difficult to forecast
Indicate whether the statement is true or false.