The Four Common Objectives of Operations Are

question 21

Multiple Choice

The four common objectives of operations are:

• A)Quality,delivery,cost,and innovation
• B)Quality,cost,flexibility,and agility
• C)Quality,cost,delivery,and flexibility
• D)Cost,quality,capacity,and flexibility

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Definitions:

Total Revenues

The cumulative revenue produced from the sales of products or services central to a business's main activities.

Gross Profit

Gross profit is the financial metric that results from subtracting the cost of goods sold from revenue, showing the profitability of a company before accounting for operating expenses.

Income from Operations

Net earnings generated from a company's normal business operations, excluding revenues and expenses from non-operational activities.

Periodic Inventory System

An inventory system where updates to inventory levels are made on a periodic basis rather than continuously.