The Production Technique That Is Most Efficient Is the One

question 164

Multiple Choice

The production technique that is most efficient is the one that produces a given amount of output

• A)using the least amount of labor resources.
• B)at the highest price per unit.
• C)at the lowest cost per unit.
• D)that yields the highest revenues.

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Definitions:

Money Orders

Money orders are a method of payment that allows individuals to transfer or send pre-specified amounts of money securely, often used as an alternative to checks or cash.

Control Activity

Actions, policies, or procedures that are part of an entity's internal control system designed to ensure operational effectiveness and financial reporting accuracy.

Surprise Audits

Unscheduled audits not known in advance by the entity being audited, used to ensure accuracy and compliance with financial policies and regulations.

Designated Personnel

Specific employees or staff members who have been assigned a particular task, responsibility, or position within an organization.