Exxon Is Building a New Oil Refinery

question 67

Multiple Choice

Exxon is building a new oil refinery. It is evaluating three different locations, all of which are located next to ocean ports, where the majority of imported oil arrives from other countries. This relates to which consideration when selecting a new facility location?

• A) design planning
• B) access to key resources
• C) proximity to major customers
• D) cost of construction and operation

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Definitions:

Significant Influence

The power to participate in the financial and operating policy decisions of a business but is not control over those policies.

Financial Decisions

Decisions made by individuals or organizations related to the allocation of resources, investment, budgeting, and managing finances.

Operating Policy

A set of guidelines or principles that dictate the operational decisions and day-to-day functioning of an organization.

Directors

Individuals elected by shareholders to oversee the management of a company, making strategic and operational decisions to ensure the company's success.