The "Tickler System" Uses Cards, Often 3 X 5 and Color-Coded

question 3

True/False

The "tickler system" uses cards, often 3 X 5 and color-coded, that are attached to folders or sent individually to officers to alert them that the file is complete and ready for the supervisor's approval.

---

Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing potential benefits that are missed.

Contribution Margin

The difference between a product's selling price and its total variable costs, which helps cover fixed costs and create profit.

Net Operating Income

The profit generated from a company's core business operations, excluding deductions for interest and taxes.

Contribution Approach

An accounting method where all variable costs are subtracted from sales to find the contribution margin, which is then used to cover fixed costs and profits.