The __________ Approach Is an Organization Structure in Which the Firm

question 95

Multiple Choice

The __________ approach is an organization structure in which the firm subcontracts most of its major functions to separate companies and coordinates their activities from a small organization at headquarters.

• A) diversification
• B) team
• C) virtual network
• D) divisional
• E) functional

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Definitions:

FIFO Method

First-In, First-Out method is an inventory valuation approach where goods purchased or produced first are sold or used first.

LIFO Cost

LIFO (Last In, First Out) Cost refers to an inventory valuation method where the most recently acquired items are the first to be sold or used, affecting the cost of goods sold and inventory valuation.

Net Income

The amount of money left over after all operating expenses, taxes, and interest are subtracted from total revenue.

Physical Flow

The movement of physical goods through a production process or supply chain.