Businesses are often classied into three broad groups: service companies, manufacturing companies, and merchandising (retail) companies. Required:
Question:
Required:
(a) Identify each of the following well-known firms as a Service company (S), a manufacturing company (M), or a merchandising company (R).
(1) General Motors
(2) FTD
(3) JPMorgan Chase
(4) Toys ‘‘R’’ Us
(5) Levi Strauss
(b) For the companies listed, identify a key business decision that each firm’s management likely faces on a recurring basis. What type of data might the accountants or each firm provide to management to help make the decisions identified?
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a 1 M 2 S 3 S 4 R 5 M b 1 Determine the estimated amount of goods needed ...View the full answer
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