Which of the Following Was Not One of the Ways

question 90

Multiple Choice

Which of the following was not one of the ways that Andrew Carnegie revolutionized the steel industry?

• A) incorporating the Bessemer process in his steel manufacturing factories.
• B) standardizing workplace procedures to achieve greater efficiency.
• C) utilizing vertical integration to minimize costs and maximize profits.
• D) restructuring the criteria for wages so that his workers could have the highest wage scales in the country.
• E) applying rigorous cost accounting.

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Definitions:

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return.

Cash Inflows

Refers to the money received by a business from its various sources, such as sales revenue, investment income, and financing.

Straight-Line Method

A depreciation method that allocates the cost of an asset evenly over its useful life.

Incremental Net Operating Income

The difference in net operating income between two alternatives.