What Is Meant by "To Earn a Profit

question 25

Multiple Choice

What is meant by "to earn a profit"?

• A) To keep accounts receivable low
• B) To keep accounts payable high
• C) Money remaining after all costs are paid
• D) To maximize the cost of money

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Definitions:

Materials Requirement Plan

A system used in manufacturing to coordinate the supply of materials with production schedules to ensure that materials are available when needed.

Contingency Theories

A class of behavioral theory that contends that there is no one best way of organizing a corporation, leading a company, or making decisions, instead it depends on various situational factors.

Theory Y

A management concept that assumes employees are inherently motivated and can exercise self-control and self-direction in achieving objectives.

Subsystems

Subsystems are smaller components of a larger system.