Which of the Following Terms Refers to the Rights Inherent

question 44

Multiple Choice

Which of the following terms refers to the rights inherent in a managerial position to give orders and expect them to be obeyed?

• A) chain of command
• B) authority
• C) power
• D) span of control
• E) leadership

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Definitions:

Variable Cost

A cost that varies with the level of output or activity, in contrast to fixed costs, which remain constant regardless of activity.

Fixed Costs

Expenses that do not change with changes in the volume of production or sales, such as rent, salaries, and insurance.

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain.

Monthly Profit

The total revenue of a business minus the total expenses for the month, indicating the financial gain.