The Purpose of the Four-Part Management Process Is to

question 85

Multiple Choice

The purpose of the four-part management process is to

• A) determine what the organization needs to do.
• B) create jobs for society.
• C) monitor the organization's performance in order to ensure that goals are achieved.
• D) increase employee satisfaction.
• E) achieve the organization's goals of supplying various products and services to society.

Identify direct materials, direct labor, and factory overhead costs.

Classify costs as either direct or indirect costs.

Compute cost of goods manufactured and cost of goods sold.

Differentiate between financial and managerial accounting.