The Field of Management That Specialises in the Physical Production

question 108

Multiple Choice

The field of management that specialises in the physical production of goods or services is known as:

• A) engineering management
• B) quantitative management
• C) service management.
• D) production management
• E) operations management

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Definitions:

Variable Costing

A cost accounting method that only allocates variable production costs to products, while fixed costs are treated as period expenses.

Net Income

The net earnings of a business once all costs, taxes, and expenses have been deducted from its total income.

Inventory

The total amount of goods a company holds in stock, including raw materials, work-in-progress, and finished goods.

Variable Costing

An accounting method that only assigns variable costs to inventory, considering fixed costs as period expenses.