Which of the Following Is NOT Part of the Process

question 96

Multiple Choice

Which of the following is NOT part of the process called The Business Planning Cycle?

• A) Management team understands its strategic opportunities and its capabilities, competencies and overall capacity
• B) Management team develops a business plan via a process which outlines its focus and methodology for using its resources
• C) Management team capitalizes on its identified strategic opportunities
• D) Management team creates valuable products and services
• E) Management team creates a unique position in the marketplace built around a competitive advantage.

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Definitions:

Equivalent Units

This refers to the quantity of partially completed goods, expressed in terms of fully completed units, used in process costing to accurately allocate costs between completed and unfinished items.

Material Costs

Expenses for raw materials that are used in the production of goods.

First-In, First-Out

An inventory valuation method where the first goods purchased or produced are the first ones to be sold or used, presuming that older inventory is used before newer inventory.

Units Completed

The total number of units produced and finished during a specific period in the manufacturing process.