Which of the Following Is Not One of the Steps

question 15

Multiple Choice

Which of the following is not one of the steps in strategic planning?

• A)transferring the successful process used in a developed country to an emerging economy
• B)scanning the external environment for opportunities and threats
• C)conducting an internal resource analysis of company strengths and weaknesses
• D)formulating goals in light of the external scanning and internal analysis

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Definitions:

Absorption Costing

Accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Unit Product Cost

The cost calculated per unit, combining all expenses including materials, labor, and overhead related to the production.

Variable Costing

A method of accounting that comprises solely of variable production expenses, such as direct materials, direct labor, and variable manufacturing overhead, in the calculation of product costs.

Variable Costing

An accounting method that includes only variable costs (costs that change with production levels) in product costs and treats fixed costs as period expenses.