What Are Strategic Business Processes

question 13

Multiple Choice

What are strategic business processes?

• A) Dynamic,nonroutine,long-term business processes such as financial planning,expansion strategies,and stakeholder interactions
• B) Semi-dynamic,semi-routine,monthly business processes such as resource allocation,sales strategy,or manufacturing process improvements
• C) Static,routine,daily business processes such as stocking inventory,checking out customers,or daily opening and closing processes
• D) None of these choices

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Definitions:

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made on a periodical basis rather than transaction by transaction.

Net Method

An accounting practice where purchase discounts are recorded immediately by reducing the price of the goods bought, assuming the discount will be taken.

Journal Entries

The records of financial transactions in the accounting system, documented in chronological order.

Voucher

A document that serves as evidence for a transaction and authorizes the payment or receipt of money.