Subjective Information

question 104

Multiple Choice

Subjective information:

• A)attempts to describe something that is unknown.
• B)describes the environment surrounding the organization.
• C)describes specific operational aspects of an organization.
• D)quantifiably describes something that is known.

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Definitions:

Opportunity Cost

The potential benefit that is given up when one alternative is selected over another.

Manufacturing Company

A business entity engaged in the transformation of raw materials into finished goods for sale by using labor, machines, and chemical or biological processing.

Contribution Margin

The amount by which sales revenue exceeds variable costs; it contributes to covering fixed costs and generating profit.

Variable Categories

Classes or groups of variables in statistics or data analysis that can take on different values and are used to categorize or differentiate data points.