According to the Textbook, Why Are Organizations Important to Society

question 45

Multiple Choice

According to the textbook, why are organizations important to society?

• A) They create value for owners, customers, and employees.
• B) They establish important relationships with the government.
• C) They reduce transactions costs.
• D) They divide the resources needed for achieving desired goals and outcomes.

Understand the cultural and political shifts that defined the era of Western expansion.

Realize the complexities of frontier life and the challenges faced by settlers and indigenous peoples.

Assess the influence of global trends on American policies and societal changes.

Evaluate the historical context of racial and ethnic tensions and their long-term impacts.

---

Definitions:

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, typically a fiscal quarter or year, to calculate the net income or loss.

Direct Materials

Raw materials that can be directly attributed to the production process of a product and are clearly identified as part of the finished product.

Manufacturing Overhead

All manufacturing costs that are not directly involved in the production process, such as maintenance, supervision, and utilities.

Operating Expenses

Costs related to the normal operations of a business, such as salaries, rent, and utilities, but excluding cost of goods sold.