After a Firm Has Identified the Various Stakeholders and Their

question 51

Multiple Choice

After a firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in brainstorming and evaluation of alternatives. __________ then review and refine these alternatives, and choose a course of action.

• A) Managers
• B) The firm's lawyers
• C) Key customers
• D) Community leaders
• E) All stakeholders

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Definitions:

Fixed Costs

Regular, constant expenses that a business incurs regardless of the level of goods or services produced.

Direct Materials

The raw materials that are directly used in the manufacturing of a product, which can be directly traced to the product itself.

Direct Labour

The wages and related benefits for workers who are directly involved in the manufacturing or production of goods.

Variable Manufacturing Overhead

Variable manufacturing overhead includes costs that fluctuate with production volume, such as utilities and materials used in the production process that are not directly tied to specific units produced.