Which of the Following Statements Is False

question 1

Multiple Choice

Which of the following statements is false?

• A) Retail stores do not have a production cycle.
• B) Financial institutions have installment-loan cycles.
• C) A service company does not have an inventory system.
• D) Every organization should implement every transaction cycle module.

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Definitions:

Control Of Operations

The oversight and management of core business activities to ensure efficiency, effectiveness, and alignment with organizational objectives.

Flexible Budget Report

A budget that adjusts or flexes with changes in volume or activity, providing a more useful comparison of actual to budgeted performance.

Production

The process of creating goods or services using labor, technology, materials, and other inputs.

Costs

Expenses incurred in the process of creating, manufacturing, or providing a service or product, including fixed, variable, and semi-variable costs.