Many Service Businesses Use Off-Peak Pricing to Reflect Variations in

question 156

Multiple Choice

Many service businesses use off-peak pricing to reflect variations in

• A)costs of delivering service.
• B)supply for a service.
• C)profitability based on time of day or week.
• D)demand for a service.
• E)capacity.

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Definitions:

Limited Partnership

A limited partnership is a form of partnership consisting of at least one general partner, who manages the business and is personally liable for partnership debts, and one or more limited partners, who are liable only to the extent of their investments.

Policies

Formal guidelines or rules established by organizations to govern decision-making and establish boundaries for behavior.

Procedures

refer to established ways of doing things; these are step-by-step instructions or guidelines designed to achieve specific tasks or outcomes.

Matrix Structures

An organizational structure that combines two or more types of departmentalization, for example, functional and product, leading to dual reporting relationships for some employees.