Today's Managers Are Beginning to Think in Terms of Business

question 26

Multiple Choice

Today's managers are beginning to think in terms of business process.A business process cuts across which functional areas of operation?

• A)Marketing and Sales
• B)Supply Chain Management
• C)Accounting and Finance
• D)Human Resources
• E)All of the above

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Definitions:

Property Rights

Legal rights to possess, use, and dispose of assets, including real property or intellectual property, ensuring control and economic benefits to the rights holder.

External Costs

Costs of a transaction or activity that affect parties who are not directly involved in it, such as pollution affecting the wider community.

Law of Demand

The principle that, all else being equal, an increase in the price of a good will decrease the quantity demanded, and a decrease in price will increase the quantity demanded.

Income Taxes

Taxes levied by governments on individual or corporate income.