Customer Management, Order Management, Invoicing, Cash Receipts, Credit and Debit Collection, Analysis and Reporting.
What are some steps in the revenue process?
100
Expenses that are not dependent on the level of goods or services produced by the business
What are Fixed Costs?
100
The price will increase and cause inflation
What is the effect of more supply and less demand?
100
Apple vs. Samsung
What is an example of Monopolistic Competition?
100
A pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time
What is Skimming Pricing?
200
Materials Requisition
Materials Issuance
Labor Operation
Machine Operation
Production Order
Production Run
What is the conversion process?
200
Costs that vary depending on a company's production volume; they rise as production increases and fall as production decreases.
What are Variable Costs?
200
The price will decrease and will cause depreciation
What is the impact of Increased Dupply and Demand
200
Aquafina vs. Fiji Water
What is an example of Oligopolistic Competition?
200
A cost management tool for reducing the overall cost of a product over its entire life-cycle with the help of production, engineering, research and design
What is Target Pricing?
300
Create a requisition and/or purchase order for goods/services incurred by the customer. After the purchase order is created by the customer, it is sent to the vendor supplying the goods/services.
What are steps in the expenditure process?
300
A product's price minus all associated variable costs, resulting in the incremental profit earned for each unit sold
What is Contribution Margin?
300
A market that has a broad range of competitors who are selling the same products
What is Pure Competition?
300
UnderArmour vs. Nike
What is an example of Pure Competition?
300
These costs include direct labor, direct materials, consumable production supplies, and factory overhead.
What are examples of Product Cost?
400
A commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.
What is a Purchase Order?
400
Calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.
How do you find Net Income?
400
Many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes
What is Monopolistic competition?
400
The cycle through which every product goes through from introduction to withdrawal or eventual demise
What is Life Cycle Pricing?
400
Responsibilities include withholding from an ----------'s compensation and paying an --------r's contribution for Social Security and Medicare taxes under the Federal Insurance Contributions Act (FICA)
What are the responsibilities of an Employer to pay?
500
If the sale occurred at the shipping point, then the buyer should take responsibility for the cost of transporting the goods. If the sale doesn't occur until the goods reach the destination, then the seller should be responsible for transporting the goods until they reach the buyer's unloading dock.
How does FOB Destination or Shipping Point affect who has the legal title?
500
Costs in manufacturing that are neither direct materials costs nor direct labor costs
What is Manufacturing overhead cost
500
A market that is dominated by only a few large firms. These firms prefer not to compete via price wars and therefore compete in various other ways, such as advertising, product differentiation and barriers.
What is Oligopoly?
500
The practice of offering a low price for a new product or service during its initial offering in order to attract customers away from competitors.