Today's Visionary Organization Uses Three Key Elements to Specify Its

question 237

Multiple Choice

Today's visionary organization uses three key elements to specify its foundation, set a direction, and

• A)set financial goals.
• B)assign job responsibilities.
• C)formulate strategies.
• D)establish production parameters.
• E)establish detailed marketing tactics.

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Definitions:

Net Realizable Value

The estimated selling price of inventory in the ordinary course of business minus any estimated costs necessary to make the sale, used in determining the value of ending inventory.

Inventories

The total amount of goods and materials held by a company for the purpose of resale or production.

Days In Inventory

A financial ratio indicating the average number of days the company takes to turn its inventory into sales.

Gross Profit

The difference between revenue generated from goods or services sold and the cost of those goods or services sold, not accounting for other operating expenses.