How Many Different Groups of Officers - President

question 18

Short Answer

How many different groups of officers - president, vice-president, treasurer, and secretary - can be formed from an organization with 45 members?

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Definitions:

Variable Costing

A costing method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in unit product costs.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.

Chief Executive Officer

The highest-ranking executive in a company, responsible for making major corporate decisions and managing overall operations.

Net Operating Income

A financial metric that calculates a company's profitability by subtracting operating expenses from its total revenue, excluding taxes and interest.