INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 53

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-Surgical expense insurance would pay for cosmetic surgery [for a face lift | to reduce the size of your nose | only if deemed a medical necessity].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Production Costs

The total expense incurred in the manufacture of a product or delivery of a service, including raw materials, labor, and overhead costs.

Inventory Management

The practice of ordering, storing, tracking, and controlling inventory to ensure the right quantity and types of products are available when needed.

Customer Service

The support and assistance provided by a company to those people who buy or use its products or services.

Warehouse

A large building where raw materials or manufactured goods are stored before their distribution for sale.