Tell Whether Permutations or Combinations Are Being Described

question 34

Multiple Choice

Tell whether permutations or combinations are being described.
-10 pageant contestants are selected to be given awards and titles, the first being the winner, the second being the first runner-up, the third being the second runner-up, and so forth.

• A) Permutations
• B) Combinations

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Definitions:

Variable Cost

Costs that change in proportion to the level of activity or volume produced, such as materials and labor costs.

Enterprise Product

A product designed specifically for organizational use to cater to the complexity and scale of enterprise requirements.

Profit-Volume Chart

A chart used to assist management in understanding the relationship between profit and volume.

Break-Even Point

The level of production or sales at which total costs equal total revenues, resulting in no net loss or gain.