Richard Writes a Statement That He Plans to Frame and Hang

question 5

Multiple Choice

Richard writes a statement that he plans to frame and hang on the wall to motivate his staff. The statement says,"To rekindle optimism and ethical behaviour in our youth,one student at a time." What kind of statement did Richard write?

• A)strategic statement  
• B)mission statement  
• C)vision statement  
• D)value statement

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Definitions:

Profit

Profit is the financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Operating Income

Income generated from a company's regular business operations, excluding one-time events and expenses.

Variable Cost

Costs that change in proportion to the level of activity or volume of goods produced.

Fixed Costs

Costs that do not change with the volume of production, such as rent, salaries, or insurance.