16 . Which of the following is an example of using cost information for operational control ?
a . evaluation of process improvement efforts in a manufacturing process b . identification of capital assets to acquire for expansion purposes c . selection of value−chain function to emphasize in corporate mission d . determination of Cost of Goods Sold for the income statement
17 . The statement of financial position is also called the ________.
a . income statement b . statement of retained earnings c . statement of cash flows d . balance sheet
18 . The acquisition of inventory for cash will ________.
a . increase assets and decrease assets b . increase assets and decrease liabilities c . increase liabilities and decrease stockholders ' equity