Match the Options Below with the Correct Phrases

question 106

Multiple Choice

Match the options below with the correct phrases:
-program

• A)written instructions to carry out the sequential steps to accomplish a task
• B)the steps by which an organization will achieve its strategic goals
• C)a planning technique for managers and subordinates to collaborate goal setting
• D)predicts income and expenses
• E)requires great leaps forward on such measures as product development, time, return on investment, and sales growth
• F)goals for middle managers
• G)a broad, written guideline
• H)the formal written organizational purpose
• I)plan which adapts to changes that affect or impact the original plan
• J)the mental activity of determining what you want to do
• K)end result of the planning effort
• L)no smoking
• M)a planning technique of predicting or attempting to foresee future issues and events
• N)a single-use plan for accomplishing a group of related activities
• O)a plan focusing on first-line managers

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Definitions:

Net Sales

The sum a company receives from its sales, after accounting for returns, compensations for damaged or missing items, and discount deductions.

Gross Profit

The difference between the revenue from sales and the cost of goods sold, before deducting overheads, interest, and taxes.

Cost of Goods Sold

Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold by a company, including materials and labor.

Perpetual Inventory System

A perpetual inventory system is a method of tracking inventory in real-time, with continuous updates to inventory records as sales and purchases occur.