Organizing Involves

question 50

Multiple Choice

Organizing involves

• A) developing an efficient plan for the use of time.
• B) developing an organizational chart.
• C) determining who reports to whom and what each employee does.
• D) structuring the necessary resources to complete a particular task.
• E) determining how best to use available material resources.

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Definitions:

Contribution Margin Ratio

A financial metric that shows what portion of sales revenue is available to cover fixed costs and generate profit after variable costs have been paid.

Fixed Expenses

Costs that do not fluctuate with changes in production level or sales volume, such as rent, salaries, and insurance premiums.

Break-Even Point

The sales level at which a business neither makes a profit nor incurs a loss.

Variable Expenses

Expenses that vary directly with the amount of production or the degree of business activity.