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ADMAX or Administrative Maximum Is the Term Used by the Federal

question 38

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ADMAX or administrative maximum is the term used by the federal government to denote:


Definitions:

Required Rate of Return

The minimum expected rate of return on an investment that makes it acceptable to an investor, based on the investment's risk level.

Housekeeping Department

A division within a business, particularly in the hospitality industry, responsible for maintaining cleanliness, order, and hygiene in rooms and public areas.

Operating Departments

Divisions within a company that are directly involved in performing the primary business activities, contrasting with support or administrative departments.

Labor-hours

Labor-hours represent the total hours worked by employees, used as a measure in allocating labor costs to products or services.

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