Which One of the Following Refers to Targets to Be

question 1

Multiple Choice

Which one of the following refers to targets to be achieved within a time frame of five to seven years?

• A)short-term objectives
• B)intermediate-term plans
• C)long-term objectives
• D)operational goals
• E)medium-term objectives

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Definitions:

Variable Cost of Goods Sold

Expenditures that fluctuate in direct relationship with the amount of goods produced or sold, for instance, materials and labor costs.

Gross Profit

The difference between sales revenue and the cost of goods sold, indicating the efficiency of a company's core operations.

Fixed Costs

A repetitive charge that does not fluctuate with the volume of business activity, including expenses like lease payments and utility bills.

Contribution Margin

The amount of revenue remaining after deducting variable costs, used to cover fixed costs and generate profit.