Which of the following statements is/are correct?
i. The economic order quantity determines the optimum order size for individual inventory items.
ii. The economic order quantity cannot be used in a manufacturing organisation.
iii. The economic order quantity minimises the sum of the ordering and carrying costs.

A) i
B) ii
C) i and iii
D) All of the given answers

Sally's Sandwiches produces sandwiches using one variable input-labor. Sally's Sandwiches is a ________ in the labor market and a ________ in the sandwich market.

A) producer; consumer
B) consumer; producer
C) consumer; consumer
D) producer; producer

In the feature Managing Ethics: Ethical Implications of Defined Contribution Plans, IBM froze its defined benefit plan and began automatically enrolling employees in a 401(k) plan. What steps did IBM take to help protect its employees against the downside risks of 401(k)s?

In recent years, immigration has contributed an insignificant amount to U.S. population growth.

If merchandise sold on account is returned to the seller, the seller acknowledges the return by issuing a

A) sales invoice
B) purchase invoice
C) credit memo
D) debit memo

Effective budgeting requires clearly defined lines of authority and responsibility.