Operations Management Is Important Because

question 6

Multiple Choice

Operations management is important because:

• A)It affects the quality of life of workers and consumers
• B)It is a major cost for firms that needs to be minimized
• C)Managers need to continually find ways to automate processes
• D)It is more important than finance or marketing

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Definitions:

Indirect Method

A way of reporting cash flows from operating activities in the cash flow statement, starting with net income and adjusting for non-cash transactions.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value over time.

Statement of Cash Flows

A financial report summarizing the amount of cash and cash equivalents entering and leaving a company.

Operating Activities

Business transactions and events related to the primary revenue-generating activities of an organization, influencing cash flow.