Kirk is an entrepreneur who has started a new business manufacturing a new generation of smartphones. He is currently using a forecast to design his manufacturing facility: deciding how much space he needs for inventory, how robots are needed for production, and how many packing machines he needs. This process is best described as ____________________.

Thomas Moser is a wood furniture company that makes high quality handcrafted furniture. When you order a chair or table, you will wait 6-8 weeks to receive your new furniture. What kind of production process do they likely use?

Ron’s company has developed a new product, ‘The Puffer.’ There is growing competition for products like The Puffer and industry profits are rising. Based on this information, in what stage of the product life cycle is The Puffer?

Because the United States imports more goods and services from other countries than they manufacture and export, the US has a __________________.

Frank, a member of the National Superworkers Union, feels that his manager is asking him to perform tasks that are unsafe and not part of his job description. Frank should file a ____________________ with his __________________.

Foundations Inc. is trying to reach a collective bargaining agreement with its employees’ labor union. The company agrees to bring in an independent third party to negotiate and agrees that this negotiator’s decision will be binding. Foundations, Inc. has agreed to __________________.

Unsecured debt is debt for which there is no _________________.

A conference organizer needs a caterer for an event, and her husband has a restaurant that offers catering services. Whether or not to hire her husband to cater her event is:

_______________ is a situation that exists when union workers refuse to buy a company’s product and try to get other people to follow suit.

The information provided by managerial accounting is of most benefit to a firm’s ________.