The FMS is based on the concept of group technology, as it is designed to produce parts within a specific range of styles, sizes, and processes. Thus, FMS flexibility is limited to the production of a single part family or a limited range of part families. A part family is defined as a number of parts with similar dimensions, geometric features, and tolerances or processing requirements or both.

Production is the transformation or conversion of a set of inputs, such as raw materials, labor, knowledge, into one or more outputs such as tables, cars, and banking services.

A department store sells a large range of products at moderate prices.

Marketing is typically defined as the creation, promotion, and delivery of goods and services directed towards consumers and businesses.

STRATEGIC ADVANTAGE  ; Unique product , Basic product

Working capital includes current asset investments of the firm, which comprises assets that can be converted into cash within one year. Current assets include cash, marketable securities, accounts receivables, inventory, and other short-term investments of the firm. Companies need to sustain a sufficient level of working capital to ensure that short-term obligations are met on time. Net Working Capital on the other hand refers to the current assets of the firm less the current liabilities.

Processing;

• Journalizing
• Posting
• All accounts are summarized

Financial markets serve many roles among which are:
• Efficient allocation of capital
Financial markets help channel funds into profitable investments and boost economic growth
• Price discovery
Prices of financial assets are formed in the market by the interaction of demand and supply for these securities.
• Liquidity
Investors can sell their investments and turn them into cash in financial markets.
• Risk Sharing

Cellular manufacturing is a process that produces families of parts within a single line or cell of machines operated by operators who work only within the line or the cell. The correct answer is E.

Branding involves a set of marketing and promotion activities that promote the brand, aiming to have a persistent image in consumers’ minds. Branding is the most strategic investment of the company. Brand equity is a term reflecting the brand’s worth in the eyes of consumers, usually reflected in the price. Brand identity is the set of all individual components of a brand, specifically including the imagery, slogans, colors, and all other types of imagery. The correct answer is D.

Content marketing refers to the creation, publishing, and distribution of digital content for a targeted audience online.

Operating decisions focus on the efficient use of resources to create competitive advantage in the market by developing effective and cost efficient systems and processes such as production, service, information, and technology. 

Detergent is a perishable product.

Operating cycle consists of : I. Cash  II. Inventory IV. Accounts Receivable  

The accounting equation is the formula used to capture the company’s financial position at any point in time. The accounting equation shows how assets, liabilities, and owners’ equity are related to each other: assets = liabilities + owners’ equity.

Advertising is the most expensive but the most effective (in terms of the number of people reached with one message) contact method. It is the most well-known mass method of conveying a message. The most important advantage lies in the fact that marketers are able to dramatize the brand meaning, such as by having actual people play a role, having animated images, and all sorts of videos and visual effects. One disadvantage is that there is no control over who is watching the advertisement and the single reaction on each view by each viewer.The correct answer is D.

Internal network, referred to as intranet, is a companywide network, closed to public access, that uses the infrastructure and standards of the Internet and the Web. It may consist of many interlinked local area networks and also use leased lines in the wide area network. Typically, an intranet includes connections through one or more gateway computers to the outside Internet. The main purpose of an intranet is to share company information and computing resources among employees. Employees in the company can communicate to each other and access company information by intranet.

Goods can be inventoried. The correct answer is B.