Which of the Following Statements Is True of a Process

question 30

Multiple Choice

Which of the following statements is true of a process map

• A) It distorts the boundaries of a process.
• B) Including non-value-added activities in a process map is one of the important responsibilities of operations managers.
• C) It documents how work either is or should be accomplished.
• D) Adding multiple approval requirements for all transactions in a process map is a crucial part in the creation of the process map.

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Definitions:

Real Cost

The total cost of producing a good or service, including the opportunity cost of alternative uses of resources and inputs.

Wartime Shortages

Periods during war when there is a lack of availability of essential goods and resources due to increased demand and disrupted supply chains.

Opportunity Cost

The benefit missed out on when choosing one alternative over another, emphasizing the impact of choice on resource allocation.

Limited Resources

The finite availability of inputs such as labor, materials, and capital, which restricts production capabilities and economic growth.