The Three Basic Levels of the Managerial Hierarchy Are

question 140

Multiple Choice

The three basic levels of the managerial hierarchy are:

• A)functional, process, and product
• B)strategic, tactical, and functional
• C)top, middle, and supervisory
• D)planning, coordinating, and controlling
• E)none of the above

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Definitions:

Variable Costs

Costs that vary directly with the level of production or sales, like raw materials and labor.

Economic Profit

The financial gain that exceeds both the total opportunity costs of production and the accounting costs, reflecting the additional value created from business activities.

Accounting Profit

The profit a company has after deducting all its expenses from its total revenue.

Verizon Wireless

A major American telecommunications company known for providing wireless products and services.