List Three Individuals or Groups Who Use Financial Information to Make

question 62

Essay

List three individuals or groups who use financial information to make decisions about a firm. For each listed, give an example of why they would need the information.

Differentiate between standardized and custom parts in the context of production.

Identify and apply different tools and techniques for production planning and control, such as Gantt and PERT charts.

Distinguish between production and manufacturing concepts.

Recognize the phases of production control and their significance.

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Definitions:

Price Information

Data or details about the cost of goods or services, which helps consumers and businesses make purchasing decisions.

Ocean Liner

A large, passenger ship designed for long-distance voyages, often associated with luxury and transoceanic travel.

Lush Tropical Island

A region characterized by abundant vegetation, a warm climate, and located within the tropics, often considered ideal for tourism and agriculture.

Economy

The large set of interrelated economic production and consumption activities that aid in determining how scarce resources are allocated.