Which of the Following Is True of the Responsibilities of the People

question 96

Multiple Choice

Which of the following is true of the responsibilities of the people involved in a business?

• A)The finance department is concerned with acquiring,developing,and using human resources effectively and efficiently.
• B)The marketing team handles all activities concerned with obtaining money for the firm and using it effectively.
• C)The managers of nonprofit organizations conduct all kinds of business operations except collecting funds.
• D)The senior management is not involved in the day-to-day functions of production and manufacturing.
• E)The primary responsibility of providing financial resources for the operation of the business lies with the business owners.

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Definitions:

Pounds

Often refers to a unit of weight used primarily in the British imperial and United States customary systems.

Materials Variance

The difference between the actual cost of materials used in production and the expected (standard) cost of those materials.

Price Variances

The difference between the actual cost of a good or service and its standard or expected cost, which can be favorable or unfavorable.

Quantity Variances

Differences between the actual quantity of materials or inputs used in a production process and the standard quantity expected to be used, often leading to cost variances.