Operations Management Is the Phase of Management

question 74

Multiple Choice

Operations management is the phase of management.

• A)planning
• B)implementation
• C)control
• D)building

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Definitions:

Work In Process Inventory

Items that are partially completed in a manufacturing process but are not yet finished goods.

Standard Control Account

An account used to monitor variances between actual costs and standard (expected) costs within an accounting period.

Sales Volume Variance

A measure used to assess the impact of the difference between actual sales volume and budgeted sales volume on revenue.

Master Products

Essential or core products that a company offers, which define its primary business operations.