If Managers Do Not Have Sufficient Information About Environmental Factors

question 50

True/False

If managers do not have sufficient information about environmental factors to understand and predict environmental needs and changes,then they are working under conditions of uncertainty.

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Definitions:

Variable

An element, feature, or factor that is liable to vary or change.

Fixed

Pertains to expenses that remain constant for a given period regardless of the level of production or business activity.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor.

Estimated

An approximation or informed guess of a value, quantity, or outcome based on available data.