_____ Enables Firms to Cope with Unexpected Events That Are

question 93

Multiple Choice

_____ enables firms to cope with unexpected events that are so sudden and devastating that they have the potential to destroy the organization if managers aren't prepared with a quick and appropriate response.

• A) Incident planning
• B) Contingency planning
• C) Strategic planning
• D) Crisis planning
• E) Emergency planning

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Definitions:

Manufacturing Overhead

All indirect costs associated with manufacturing, including but not limited to utility costs, depreciation, and salaries of maintenance personnel.

Variable

An element, feature, or factor that is liable to vary or change.

Segmented Income Statement

A financial statement that breaks down revenue, expenses, and profits by specific segments, departments, or products within a company.

Contribution Format

A method of income statement presentation where all variable costs are subtracted from sales to find the contribution margin, followed by the deduction of fixed costs to determine net operating income.