Question

Q.1.

When benchmarking measures against the best levels of performance, these best levels may be found:

	A.	inside the organization.
	B.	outside the organization.
	C.	inside and outside the organization.
	D.	None of these is correct.

Q.2.

Estimates may be of:

	A.	amount.
	B.	size.
	C.	value.
	D.	All of these are correct.

Q.3.

True or False? The average cost of inventory derived by using the weighted average inventory method is in fact an estimate. The weighted average cost is determined by dividing the cost of goods available for sale by the number of units available.

True

False

Answer 1

Dear Sir/Mam,

Q.1.

The Required answer is option C i.e Inside and outside the organization.

Because if we require best level of performance then we need to consider both internal and external components like Customers, Competitors, Suppliers etc

Q.2.

The Required answer is option D i.e. All of these are correct

Because estimate can be made for anything like Amount, Size or Value. Estimate is just a prediction of future.

Q.3.

The Required answer is option A i.e True

In weighted average method cost is is determined by dividing the cost of goods available for sale by the number of units available

I hope this clear your doubt.

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