An Organisation's ________ Identifies the Organisation's Purpose Objective,its Output/market Scope

question 91

Multiple Choice

An organisation's ________ identifies the organisation's purpose objective,its output/market scope and the way it conducts its operations;the output/market scope includes customer groups served,customer functions and technologies used.

• A)strategy
• B)code of ethics
• C)mission statement
• D)structure

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Definitions:

Absorption Costing

An accounting method that includes all of the direct and indirect manufacturing costs in the cost of a product.

Product Cost

The total expenses incurred to create a product, including direct labor, materials, and overhead costs.

Variable Costing

An accounting method that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold, treating fixed manufacturing costs as period costs.

Fixed Overhead

The set of expenses that do not vary with the level of production or sales, such as rent, salaries, and insurance.