In Time Management, the 80/20 Principle Has to Do With

question 25

Multiple Choice

In time management, the 80/20 principle has to do with:

• A)prioritizing responsibilities.
• B)executing responsibilities.
• C)scheduling responsibilities.
• D)all of the above.

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Definitions:

Inventory Valuation

A method used to calculate the cost of goods sold and the end inventory balance, involving techniques such as FIFO, LIFO, and weighted average cost.

Consignor

A person or company that sends goods to a consignee to be sold or returned, retaining ownership until sale.

Consignee

The party to whom goods are shipped and held in trust until they are sold, at which point payment is made to the consignor.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of the company in selling its products.