a) Distinguish between cash discount and a purchase
discount.
b) What is the difference between a sales discount and a
purchase discount? Can you illustrate a journal entry for each?
c) What is the purpose of a accounts payable subsidiary ledgers?
How is it used? Why is it used?
3. Distinguish using practical examples, the differences between
concoctions and decoctions. What are the relative dangers of wrong
and unapproved mixtures and combinations of alcoholic substances
and how can these dangers be averted?
This is related Sourcing and Supplier Relationships in Supply
chain
(1) Using suitable examples, distinguish between “Strategic
Items” and “Core Standard Items”.
(2) Should a company develop partnership relationship with all
its suppliers? Why or why not?
(3) Is the “Diamond model” for supplier relationship superior to
the “Bow-tie” model? Explain.
(4) What do you understand by “Supplier development” and why is
it important?
(5) Clearly describe the benefits of centralizing procurement
instead of decentralizing it.
1. Distinguish between explicit and implicit costs, giving 3
examples of each using the production of higher education.
2. Which of the following are short-run and which are long-run
adjustments?
Freddie’s Frozen Custard builds 5 new restaurants.
Pioneer Balloon Corporation hires 200 more production
workers.
Gaddert Farms increases the amount of fertilizer used on their
corn crop.
Boeing closes its manufacturing facility in Wichita, sells the
plant and moves to Oklahoma City.
3. Answer all three parts:
Why can the...