Process Maps Are Used ________

question 47

Multiple Choice

Process maps are used ________.

• A)to make investment decisions regarding capital assets
• B)as a guide for strategic decisions
• C)as a tool for managers to understand operations
• D)as a tool for accountants to develop a cost accounting system

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Definitions:

Current Liabilities

Obligations expected to require cash in less than one year, usually payables and accruals.

Temporary Working Capital

Additional working capital needed to support the fluctuating levels of business activity.

Cyclical Nature

Describes a pattern that repeats in cycles, often used in economics to describe the fluctuations in the economy over periods of expansions and recessions.

Seasonal

Pertaining to or occurring during a particular season of the year, often implying changes in business activities, market demand, or weather patterns that recur annually.