The Quantitative Approach to Management Was Largely Used to Improve

question 122

Multiple Choice

The quantitative approach to management was largely used to improve ________.

• A)productivity
• B)efficiency
• C)decision making
• D)planning

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Definitions:

Purchase Discount

A reduction in the purchase price, offered by the seller to the buyer, as an incentive for early payment.

Terms 2/10 n/30

Payment terms indicating a 2% discount if paid within 10 days, otherwise the full amount is due within 30 days.

Physical Inventory Count

An assessment method where a business physically counts its entire inventory to verify stock records and accounts.

Perpetual Inventory System

An inventory management method where updates to inventory records are made in real-time following each receipt or sale of inventory items.