If an Organization Wants to Make a Profit,it Must Generate

question 103

Multiple Choice

If an organization wants to make a profit,it must generate more sales revenue than the total costs it incurs.This relation can be expressed using which of the following profit equations?

• A)Operating income = [Sales price per unit – Fixed cost per unit x # units produced] – Variable cost
• B)Operating income = [Contribution margin per unit x # units sold] – Fixed costs
• C)Operating income = Sales revenue - Total variable costs - Committed costs
• D)Operating income = Sales revenue - Product costs - Discretionary costs

Understand the principles of forming confidence intervals for means and proportions.

Apply confidence interval concepts to estimate the difference between two population means.

Apply confidence interval concepts to estimate the difference between two population proportions.

Interpret and compare confidence intervals to draw conclusions about population parameters.

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Definitions:

Risk Factors

Elements or conditions that increase the likelihood of a negative outcome or event.

Evaluating Options

The process of systematically examining potential choices and determining the best course of action.

Idea Killers

Factors or attitudes that hinder the development or acceptance of new ideas.

Generating Ideas

The process of brainstorming and coming up with new and creative concepts or solutions.