Answer:
C) Supply chain management system
Explanation:
Supply Chain Management (SCM) includes all processes that transform raw materials into final products in order to maximize customer value and gain a competitive advantage in the marketplace. SCM covers everything from production to product development to the information systems needed for the best management.
The supply chain cycle of Wal-Mart includes procurement, manufacturing, distribution, retailing. As a retailer, Wal-Mart has to source its products from vendors domestically and globally, this creates a more effective supply chain that allows for lower prices.
Answer: monitoring operation
Explanation:
Monitoring operations requires management oversight, employee feedback and customer reviews. It can help provide specific directions for employees, which can lead to improved time management and increased productivity.
Answer:
oligopoly
Explanation:
An oligopoly is a market structure comprising a few firms dominating a large market with many buyers. The few firms sell similar or differentiated products. Each of the firms commands a sizable market share and can influence the market. Apart from the few dominating firms, there could be other small sellers with a smaller market share operating in the market. Another example of an oligopoly market is the air travel business, where a few airline companies dominate the market.
Characteristics of oligopoly market include
- Barriers to entry due to heavy capital requirements and market domination by a few firms.
- Each firm sets its price
- heavy advertising to woe clients
- Collaboration among the few dominating firms
Answer:
1. Prepaid insurance (Dr.) $6,300
Cash (Cr.) $6,300
2. Cash (Dr.) $15,300
Unearned Income (Cr.) $15,300
3. Purchases (Dr.) $1,750
Accounts payable (Cr.) $1,750
Cost of Goods Sold (Dr.) $1,620
Ending Inventory (Dr.) $130
Purchases (Cr.) $1,750
4. Prepaid office rent (Dr.) $6,300
Cash (Cr.) $6,300
Explanation:
The adjusting entry is a journal entry recorded at end of accounting period to adjust events or transactions to comply with the accrual concept.
The closing entries are journal entries required to close a transaction or event in the period. The purpose is to follow matching concept of accounting.
