An Informal Panel of Experts and Other People Who Are

question 41

Multiple Choice

An informal panel of experts and other people who are interested in seeing the new venture succeed is a/an ____.

• A)mentor board
• B)startup team
• C)virtual team
• D)advisory board
• E)consulting firm

Calculate and interpret net operating income under variable and absorption costing methods.

Understand the impact of costing methods on net operating income.

Analyze the total period costs under variable costing.

Analyze the total cost assigned to finished goods inventory under variable costing.

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Definitions:

Ambition

The strong desire to achieve something, typically requiring determination and hard work.

Theory X

A management theory which assumes that employees are naturally unmotivated and need strict supervision and control to be productive.

Theory Y

A management concept that assumes employees are inherently motivated and responsible, and that they work best under conditions of freedom and empowerment.

Deming

Refers to W. Edwards Deming, an American engineer, statistician, professor, author, lecturer, and management consultant known for his work in the field of quality management.