Once the Plan Has Been Prepared and Reviewed, What Should

question 8

Multiple Choice

Once the plan has been prepared and reviewed, what should be the next part of Step 5 of the planning process?

• A) Identifying hazards and threats being faced
• B) Assessing risks associated with hazards and threats
• C) Developing a detailed timeline within the scenario
• D) Seeking approval and disseminating the plan

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Definitions:

Financial Advantage

The benefit gained in monetary terms from a certain business activity or financial decision.

Fixed Manufacturing Overhead

Costs that do not vary with the level of production, such as rent, insurance, and salaries for managers.

Contribution Margin

What’s left of the sales proceeds once variable expenditures are taken out.

Direct Labor

The labor costs directly attributed to the production of goods or services; it includes wages paid to workers physically making a product.