The Type of Utility on Which Production and Operations Management

question 102

Multiple Choice

The type of utility on which production and operations management focuses is ____ utility.

• A) place
• B) time
• C) form
• D) possession
• E) need

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Definitions:

Balance

The amount of money present in an account or the difference between the total debits and credits in an account.

Wrong Account

An error where financial transactions are recorded in an incorrect account, potentially affecting the accuracy of financial statements.

Chart of Accounts

An organized list of all accounts in a business's financial system, which helps in recording transactions in the correct accounts.

Special Ledger

A set of subsidiary accounts or a separate bookkeeping system that provides detailed information in addition to the general ledger.