_________________ Customization Implies That a Firm May Be Able to Customize

question 105

Multiple Choice

_________________ customization implies that a firm may be able to customize its product range to suit the needs of different customer groups without bearing a cost penalty.

• A) Assembly-like
• B) Standardized
• C) Economic
• D) Mass
• E) Manufacturing

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Definitions:

Control Activities

Policies, procedures, and mechanisms implemented by an organization to prevent or detect errors or frauds, ensuring the integrity of financial reporting and compliance with laws and regulations.

Risk Assessment

The process of identifying, evaluating, and estimating the levels of risk involved in a situation, followed by the coordination and economical application of resources to minimize, monitor, and control the probability and impact of unfortunate events.

Idle Cash

Cash that is not currently employed in any investment or operation, therefore not earning any return or interest.

Cash Equivalents

Short-term, highly liquid investments that are easily convertible to known amounts of cash with original maturities of three months or less.