The Act of Executing and Controlling the Productive Functions of a Firm

question 81

Multiple Choice

The act of executing and controlling the productive functions of a firm is known as

• A)process design.
• B)process management.
• C)process control.
• D)process improvement.

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Definitions:

Unit Variable Costs

The costs that vary directly with the level of production or sales volume, such as materials and labor, calculated on a per-unit basis.

Break-even Sales

The amount of revenue from sales needed to cover all of a company’s operating expenses, resulting in neither profit nor loss.

Unit Variable Costs

The costs that vary directly with the production volume, including materials and labor, on a per unit basis.

Break-even Point

The point at which total revenues equal total costs, resulting in no profit or loss.