With the Aid of Computer Software, Managers Can Vary Assumptions

question 54

Multiple Choice

With the aid of computer software, managers can vary assumptions regarding selling prices, costs, and volume and can immediately see the effects of each change on the break-even point and profit. This is called

• A) "what if" or sensitivity analysis
• B) vary the data analysis
• C) computer-aided analysis
• D) data gathering

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Definitions:

Safety Precautions

Measures taken in advance to prevent accidents, harm, or other adverse outcomes.

Mine Caving

A method of underground mining involving the controlled collapse of ore deposits to allow their extraction.

Distribution of Wealth

Refers to the way wealth is distributed among the members of a society, impacting economic inequality and access to resources.

Second Principle

In the context of John Rawls' theory, the second principle of justice describes fair equality of opportunity and the difference principle, allowing inequalities only if they benefit the least advantaged.