Operations Management Is a Specialized Area in Management That Converts

question 269

Multiple Choice

Operations management is a specialized area in management that converts resources into

• A) services, rather than goods.
• B) goods, rather than services.
• C) both goods and services.
• D) financial data.

---

Definitions:

Gross Profit Percentage

A financial ratio that expresses the gross profit as a percentage of sales revenue, indicating the efficiency of production and cost management.

Cost of Goods Sold

Costs directly related to the creation of a company's sold products, involving expenses for materials and workforce.

Net Income

The total earnings of a company after subtracting all expenses from revenues, which includes costs, interest, taxes, and other expenditures.

Sales

The total revenue generated from goods or services sold by a company.