Outsourcing Refers To

question 8

Multiple Choice

Outsourcing refers to:

• A) contracting with another organization to perform a broad set of services.
• B) licensing another organization to perform an organization's business in a different country.
• C) using a temporary or contract employee to fill a single job vacancy.
• D) buying the necessary raw materials needed to perform a business from external agencies.
• E) moving operations away from the home location to bring about cost savings.

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Definitions:

Total Market Value

The aggregate valuation of a company, measured by multiplying its current share price by its total outstanding shares.

Cost Of Goods Sold

Costs directly linked to manufacturing goods that a company sells, comprising expenditures on materials and labor.

Inventory Turnover

A proportion indicating the frequency with which a business has sold its inventory and replenished it within a specific timeframe.

Current Liabilities

Financial obligations of a business that are due and payable within one year, including accounts payable, short-term debt, and other short-term obligations.