Great outdoors company operates a store in downtown denver that has five departments including a fishing department. if the fishing department is closed, the store manager's position will not be affected, but if the entire store is closed, the manager will be terminated. which of the following lessons should be learned from this example?
1) opportunity costs are always present.
2) sunk costs cannot be avoided.
3) relevance of costs is context sensitive.
4) information does not have to be precisely accurate in order to be relevant.

You are an employee of an u.s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u.s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u.s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.