A(n) ________ Would Be Used by a Department Manager as a Tool

question 78

Multiple Choice

A(n) ________ would be used by a department manager as a tool for making daily and weekly assignments.

• A) operational plan
• B) vision statement
• C) mission statement
• D) tactical plan

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable production costs have been deducted, indicating how much contributes toward covering fixed costs and generating profit.

Contribution Format

A contribution format income statement categorizes costs as variable or fixed and calculates a contribution margin.

Net Operating Income

Profits from a company's core business operations, excluding deductions of interest and taxes.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, leading to the net profit or loss for that period.