Some Organizations Use Internal Service Departments to Provide Services to Several

question 60

Multiple Choice

Some organizations use internal service departments to provide services to several divisions or departments within an organization.Which of the following would probably not lend itself as a service department?

• A) Inventory Control
• B) Payroll Accounting
• C) Information Systems
• D) Human Resources

Recognize the basic functions of warehousing activities.

Identify and explain the components of inventory carrying costs.

Grasp the importance of supply chain management in sharing supply and demand information with suppliers and customers.

Understand how effective materials management supports marketing objectives and customer satisfaction.

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Definitions:

Mark-up

An extra charge applied to the base cost of products to accommodate for overheads and earnings, culminating in the final asking price.

Selling Price

The amount of money for which an item or service is sold to the buyer.

Operating Expenses

Operating expenses are the costs associated with running a business's core operations on a daily basis, including rent, utilities, and payroll.

Mark-up

A supplementary percentage of the cost price of products designed to account for overhead costs and profit margins.