The Standard of Performance That Measures Efficiency at the Corporate

question 62

Multiple Choice

The standard of performance that measures efficiency at the corporate level of the organization is known as

• A)cost of goods sold.
• B)capital costs.
• C)net sales.
• D)operating costs.

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Definitions:

Short-rate Refund

A return of a portion of the premium on an insurance policy that is canceled by the policyholder before its expiration, calculated at less than a pro-rata basis.

Premium Rate

The cost rate of insurance coverage per unit of coverage, reflecting the risk and administrative costs.

Coinsurance Clause

A provision in an insurance policy that defines the split of responsibility for payment between the insurer and the insured.

Short Rate

A penalty premium amount charged when an insurance policy is terminated by the policyholder before the end of its term.