In Terms of Good Management, Efficiency Differs from Effectiveness Primarily

question 111

Multiple Choice

In terms of good management, efficiency differs from effectiveness primarily in the former's focus on

• A)customer satisfaction.
• B)shareholder profits.
• C)customer retention.
• D)employee turnover.
• E)resource utilization.

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Definitions:

Net Price

The actual price paid for a product or service after deducting any discounts, rebates, or allowances.

Discount Method

A valuation approach that calculates the present value of future cash flows by applying a discount rate.

Discount Date

The date on which a payment must be made in order to receive a discount for early payment under specified terms.

Due Date

The specified date by which an obligation, such as a bill or assignment, must be completed or paid.