The Field of Management That Specializes in Production of Goods

question 120

True/False

The field of management that specializes in production of goods and services and uses special tools and techniques for solving production problems is called operations management.

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Definitions:

Loss on Disposal

The financial loss incurred when an asset is sold for less than its carrying value on the books.

Other Revenue

Income generated from activities not related to a company’s primary operations.

Fixed Assets

Long-lasting physical resources used in the functioning of a business, not expected to be spent or transformed into cash over the course of one year.

Current Assets

Resources intended to be turned into cash, disposed of, or utilized within a period of one year or the duration of the company's usual operational cycle, depending on which of the two extends longer.