____ Is the Degree to Which an Organization Achieves Its

question 37

Multiple Choice

____ is the degree to which an organization achieves its goals.

• A) Effectiveness
• B) Efficiency
• C) Organizational strategy
• D) Stakeholder profitability

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Definitions:

Actual Materials Price

The price actually paid for raw materials used in the production process, which can be compared to the standard or budgeted cost to assess efficiency.

Standard Price

A pre-determined cost that a company expects to pay for materials, labor, and overhead expenses.

Standard Price

A pre-determined cost assigned to a product or service, often used in budgeting and performance evaluations.

Direct Materials

Raw materials that are directly traceable to the production of specific goods or services.