Which of the Following Is Correct Regarding Opportunities and Ideas

question 53

Multiple Choice

Which of the following is correct regarding opportunities and ideas?

• A) An opportunity and an idea are essentially the same thing.
• B) An idea almost always meets the criteria of an opportunity.
• C) An opportunity is a thought, an impression, or a notion.
• D) An idea is a favorable set of circumstances that creates a need for a new product, service, or business.
• E) It's important to discern whether a particular idea meets the criteria for an opportunity.

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Definitions:

Variable Manufacturing Overhead

Costs in the manufacturing process that fluctuate with production volume, such as utilities or materials used only in production.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Cash Account

An account that records all transactions made in cash, including receipts and payments.

Direct Labor Costs

The wages paid to workers who are directly involved in the production of goods or the provision of services, excluding the cost of materials and overhead.