Some Meetings Have a Constitution, a List of Written Rules

question 30

Multiple Choice

Some meetings have a constitution, a list of written rules that guides how the meeting is conducted and stipulates how many members must be present before the meeting can take place. This is called:

• A) a quorum.
• B) a majority.
• C) consensus.
• D) a 'first past the post' vote.
• E) proportional representation.

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Definitions:

Curvilinear Costs

Costs that change with the level of output or activity in a non-linear relationship, displaying variances in the cost per unit at different production volumes.

Break-even Analysis

A calculation that determines when an investment will reach a financial break-even point.

Margin of Safety

The difference between actual or projected sales and the break-even point, indicating the level of risk in missing sales projections.

Break-even Sales

The amount of revenue needed to cover total costs, both fixed and variable, indicating the point at which a company neither makes a profit nor incurs a loss.