What Is It Called When an Organization Hires an Outside

question 61

Multiple Choice

What is it called when an organization hires an outside company to perform some or all of a systems development project?

• A)global import
• B)off shoring
• C)systems investigation
• D)outsourcing

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Definitions:

Production Budget

A financial plan outlining the costs associated with the production process, including materials, labor, and overhead for a specific period.

Variable Overhead

Costs that vary directly with the level of production or business activity, including utilities and materials used in production.

Decision Management Rights

The authority to make strategic decisions within an organization, typically held by upper management or executives.

Budgeting Process

A structured approach to creating a plan for a company's financial resources, outlining expected revenues and expenditures.