Homework Help for Business (page 3)
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What decisions does the business cycle help businesses make? Check all that apply.
Consider a fixed-period system (FPS). Choose the most accurate statement regarding an FPS.
a. It orders a fixed quantity of items when the inventory position reaches or drops below the reorder point (r).
b. It orders sufficient stock at the time of review to bring the inventory position up to the replenishment level (M).
c. It maintains a constant order quantity in every review period.
d. It checks the inventory position on a continuous basis.
Allocative efficiency occurs only at that output where:
A) marginal benefit exceeds the marginal cost by the greatest amount.
B) consumer surplus exceeds producer surplus by the greatest amount.
C) the combined amounts of consumer surplus and producer surplus are maximized.
D) the areas of consumer and producer surplus are equal.
Which of the following is a benefit derived from budgeting?
A) Budgeting focuses management's attention on the future.
B) Budgeting provides coordination of departments.
C) Budgeting provides a basis for evaluating performance.
D) Budgeting provides motivation for managers and employees.
E) All of the choices are benefits derived from budgeting.
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