XYZ Can Be Described as a Form of Business That

question 17

Multiple Choice

XYZ can be described as a form of business that transforms resources into an intangible output and creates time or place utility for its customers. XYZ is called a(n)

• A)manufacturing organization.
• B)biotechnology firm.
• C)information technology firm.
• D)service organization.
• E)hybrid organization.

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Definitions:

Suppliers

Entities that provide goods or services to another entity, typically for resale or business use.

Firm's Potential Capacity

The maximum output a company can produce in a given period under ideal conditions, without considering current operational constraints.

Internal Control

Internal Control refers to the processes and procedures implemented by a business to safeguard its assets, ensure the integrity of its accounting records, and enhance the effectiveness and efficiency of its operations.

Approved Voucher

A document that authorizes a payment and records the details of the transaction, having been reviewed and approved for payment.