The Managerial Value of Planning Includes

question 74

Multiple Choice

The managerial value of planning includes:

• A)the planning process brings the management team together.
• B)a resulting road map for running the business.
• C)planning that provides credibility to employees.
• D)Both a & b
• E)All of the above

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Definitions:

Fixed Cost

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.

Machine Hours

A measure of the amount of time a machine is operated, used in cost accounting to allocate costs to products.

High-Low Method

An approach to estimate fixed and variable costs from the highest and lowest activity levels.

Available Data

Information that is readily accessible and can be used for analysis or decision-making processes.