Production and Operations Managers Are Concerned With

question 31

Multiple Choice

Production and operations managers are concerned with:

• A)identifying and efficiently using sources of financing.
• B)managing an entire market segment of a business.
• C)planning,pricing,and promoting products.
• D)transforming resources into good and services.
• E)recruiting new employees and developing employee programs.

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Definitions:

Net Income

The sum a company retains as earnings after all taxes and expenses have been deducted from its income.

Periodic Inventory System

A method of inventory valuation in which inventory levels and cost of goods sold are determined at the end of an accounting period.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and manufacturing overhead.

Gross Profit

The difference between sales revenue and the cost of goods sold.