Opportunities That Managers Can Exploit If Certain Events Occur in the Future

question 415

Multiple Choice

Opportunities that managers can exploit if certain events occur in the future are called:

• A) Tactical opportunities.
• B) Strategic opportunities.
• C) Managerial options.
• D) Managerial scenarios.
• E) Constrained capital budgeting analysis.

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Definitions:

Standard Hours

The predetermined amount of time expected to complete a task or produce a unit of product under normal conditions.

Total Standard Cost

The aggregated cost of direct materials, direct labor, and manufacturing overhead used in producing a product under standard costing.

Standard Cost

The planned cost for a unit of product or service, serving as a benchmark for evaluating performance and setting budgets.

Net Operating Income

The profit a company makes after deducting its operating expenses, without accounting for taxes and interest.