The Level of an Organization's External Environment That Contains Components

question 23

Multiple Choice

The level of an organization's external environment that contains components normally having relatively specific and immediate implications for managing the organization is the ________.

• A)demographic environment
• B)general environment
• C)industry environment
• D)international environment
• E)internal environment

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Definitions:

Journal Entry

A record that keeps the financial transactions of a business in chronological order as they occur.

Process Costing System

An accounting methodology used in industries where production is continuous, assigning costs to units of product based on the process they go through.

Raw Materials Inventory

The stock of basic materials and components that are required in the manufacturing process before they are transformed into finished goods.

Purchase

The acquisition of goods or services in exchange for money, representing a transaction that increases inventory or assets for a business.