A Production House Called Script Creations Inc

question 55

Multiple Choice

A production house called Script Creations Inc. initiated a strategy for making its next movie. It invited a mass of people to create short documentaries on a social theme. As per the terms and conditions, Script Creations would select top three short stories to create an overall complete movie. This initiation by Script Creations Inc. is an example of _________.

• A)crowdsourcing
• B)insourcing
• C)offshoring
• D)benchmarking

Understand the concept and application of flexible budgets.

Differentiate between flexible and static budgets.

Identify controllable and noncontrollable expenses.

Comprehend cost behavior within the relevant range.

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Definitions:

Five-Figure Accuracy

Precision to five significant digits in a numerical value or measurement.

Terminating Decimal

A decimal featuring a specific, countable number of digits beyond the decimal point.

Five-Figure Accuracy

The precision or exactness of a numerical value up to five digits.

Nearest Dollar

Rounding a monetary amount to the closest whole dollar value.