单选题This year's sales in many companies were lower than ().Alat year'sBwhich of last year'sClast yearDin last year

单选题
This year's sales in many companies were lower than ().
A

lat year's

B

which of last year's

C

last year

D

in last year


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15 A trader who fixes her prices by adding 50% to cost actually achieved a mark-up of 45%.Which of the following factors could account for the shortfall?1 Sales were lower than expected.2 The opening inventories had been overstated.3 The closing inventories of the business were higher than the opening inventories.4 Goods taken from inventories by the proprietor were recorded by debiting drawings and crediting purchases withthe cost of the goods.A All four factorsB 1, 2 and 4 onlyC 2 onlyD 3 and 4 only

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CYBER MONDAY CLICKS IN WITH RECORD SALES Cyber Monday rocked while mobile sales roared. The day widely regarded as the Super Bowl of online sales created a record day for retailers, including Walmart, and marked a shift in shopping preferences as smartphones and tablets drove nearly a third of traffic — and for some retailers, more than half.? W expects to register its biggest Cyber Monday yet, coming off a record Black Friday weekend online. Heading into the afternoon Monday, the website had already sold out of PlayStation 4 and Xbox One consoles, which weren't even discounted. Significant savings on TVs and tablets also encouraged shopping, says Joel Anderson, CEO of W. Retailers from Target to Sears are fast evolving Cyber Monday into something more akin to Cyber Week, as online deals stretch well beyond Monday. As of 6 p.m. ET, sales on Amazon were up 44.3% over last year, while sales at eBay were up 32.1%, according to Channel Advisor, which tracks third-party sellers on eBay and Amazon. The online marketplaces are doing well in part because shoppers are heading to those sites to find popular products that are selling out at regular retailers, says Scot Wingo, CEO of Channel Advisor. Flash-sale site Rue La La started Cyber Monday deals on Sunday with a “Cyberthon” that drew more than 350,000 people to the site. The sale promoted as much as 80% off on more than 150 brands. On Monday, sales of Cole Haan and Pandora Jewelry merchandise were strongest, CEO Steve Davis says.1. Retailers used mobile devices and drove nearly a third of traffic, or even more than half to online shopping. As we know that doesn't belong to the mobile device.()A. tabletsB. smartphonesC. personal computer2. PlayStation 4 and Xbox One consoles were sold out on the afternoon Monday although they weren't even discounted.()A. eBB. WC. A3. According to sales on Amazon were up 44.3% over last year, while sales at eBay were up 32.1%.()A. WalmartB. Rue La LaC. Channel Advisor4. Cyber Monday deals on Sunday with a “Cyberthon” that drew more than people to the site. ()A. 350,000B. 35,000C. 3,500,0005. We can infer from the passage _____ isn't an online retailer. ()A. SearsB. Channel AdvisorC. Walmart

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Section B – TWO questions ONLY to be attemptedPerkin manufactures electronic components for export worldwide, from factories in Ceeland, for use in smartphones and hand held gaming devices. These two markets are supplied with similar components by two divisions, Phones Division (P) and Gaming Division (G). Each division has its own selling, purchasing, IT and research and development functions, but separate IT systems. Some manufacturing facilities, however, are shared between the two divisions.Perkin’s corporate objective is to maximise shareholder wealth through innovation and continuous technological improvement in its products. The manufacturers of smartphones and gaming devices, who use Perkin’s components, update their products frequently and constantly compete with each other to launch models which are technically superior.Perkin has a well-established incremental budgeting process. Divisional managers forecast sales volumes and costs months in advance of the budget year. These divisional budgets are then scrutinised by the main board, and revised significantly by them in line with targets they have set for the business. The finalised budgets are often approved after the start of the accounting year. Under pressure to deliver consistent returns to institutional shareholders, the board does not tolerate failure by either division to achieve the planned net profit for the year once the budget is approved. Last year’s results were poor compared to the annual budget. Divisional managers, who are appraised on the financial performance of their own division, have complained about the length of time that the budgeting process takes and that the performance of their divisions could have been better but was constrained by the budgets which were set for them.In P Division, managers had failed to anticipate the high popularity of a new smartphone model incorporating a large screen designed for playing games, and had not made the necessary technical modifications to the division’s own components. This was due to the high costs of doing so, which had not been budgeted for. Based on the original sales forecast, P Division had already committed to manufacturing large quantities of the existing version of the component and so had to heavily discount these in order to achieve the planned sales volumes.A critical material in the manufacture of Perkin’s products is silver, which is a commodity which changes materially in price according to worldwide supply and demand. During the year supplies of silver were reduced significantly for a short period of time and G Division paid high prices to ensure continued supply. Managers of G Division were unaware that P Division held large inventories of silver which they had purchased when the price was much lower.Initially, G Division accurately forecasted demand for its components based on the previous years’ sales volumes plus the historic annual growth rate of 5%. However, overall sales volumes were much lower than budgeted. This was due to a fire at the factory of their main customer, which was then closed for part of the year. Reacting to this news, managers at G Division took action to reduce costs, including closing one of the three RD facilities in the division.However, when the customer’s factory reopened, G Division was unwilling to recruit extra staff to cope with increased demand; nor would P Division re-allocate shared manufacturing facilities to them, in case demand increased for its own products later in the year. As a result, Perkin lost the prestigious preferred supplier status from their main customer who was unhappy with G Division’s failure to effectively respond to the additional demand. The customer had been forced to purchase a more expensive, though technically superior, component from an alternative manufacturer.The institutional shareholders’ representative, recently appointed to the board, has asked you as a performance management expert for your advice. ‘We need to know whether Perkin’s budgeting process is appropriate for the business, and how this contributed to last year’s poor performance’, she said, ‘and more importantly, how do we need to change the process to prevent this happening in the future, such as a move to beyond budgeting.’Required:(a) Evaluate the weaknesses in Perkin’s current budgeting system and whether it is suitable for the environment in which Perkin operates. (13 marks)(b) Evaluate the impact on Perkin of moving to beyond budgeting. (12 marks)

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This year's sales in many companies were lower than ().A、lat year'sB、which of last year'sC、last yearD、in last year

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