Efficiency and Effectiveness of Operations Are Goals Of

question 54

Multiple Choice

Efficiency and effectiveness of operations are goals of:

• A) enterprise systems
• B) risk assessment
• C) e-business
• D) internal control

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Definitions:

FOB Shipping Point

A term used in shipping that indicates that the buyer is responsible for the cost and risk of transport as soon as the goods are loaded onto the shipping vehicle.

Freight Costs

Expenses associated with transporting goods from one place to another, which could include shipping, trucking, and other logistical expenses.

Operating Expense

Expenses incurred through normal business operations, such as rent, utilities, and payroll, exclusive of cost of goods sold.

Refund Liability

An obligation recorded by a business to return funds to a customer for returned or unsatisfactory goods or services.