Which of the Following Includes the Planning, Execution, and Control

question 40

Multiple Choice

Which of the following includes the planning, execution, and control of all activities involved in raw material sourcing and procurement, conversions of raw materials to finished products, and the warehousing and delivery of finished products to customers?

• A)enterprise resource planning
• B)supply chain management
• C)customer relationship management
• D)materials requirement planning

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Definitions:

Total Profit

The financial gain obtained when total revenue exceeds total expenses from business operations.

Graph

A diagram representing data visually, using lines, bars, or other symbols.

Implicit Cost

Refers to the opportunity costs that are not directly paid for in money but represent the loss of value from using resources for a particular venture instead of their best alternative use.

Explicit Cost

Direct, out-of-pocket payments for goods or services used in the production of a product or offering of a service.