The Purpose of a Profit-Sharing Plan Is To

question 115

Multiple Choice

The purpose of a profit-sharing plan is to:

• A) allow workers to contribute specific knowledge to improving the organization.
• B) motivate a total commitment to the organization as a whole.
• C) enable workers to share in labor cost savings.
• D) instill commitment to the employee's immediate work group.

Identify the characteristics of direct and indirect costs in the context of cost objects.

Understand inventory management systems and the rationale behind just-in-time manufacturing.

Recognize the role of product costs in manufacturing and administrative processes.

Learn about total quality management, just-in-time manufacturing, and lean business models, and their focus on efficiency and quality.

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Definitions:

Distribution Channels

Pathways and intermediaries through which a product or service flows until it reaches the end consumer.

Supply Chains

Networks of individuals, organizations, resources, activities, and technologies involved in the production and delivery of a product or service.

Logistic Channels

Pathways or networks used for the distribution of goods from manufacturers to consumers.

Logistics Chains

The sequence of processes involved in the production and distribution of a commodity, also known as supply chains.