Which of the Following Is an Example of a Strategic

question 60

Multiple Choice

Which of the following is an example of a strategic management decision that uses cost information?

• A) determination of Cost of Goods Sold for the income statement
• B) identification of value-chain function to outsource
• C) evaluation of operational cost control program
• D) assessment of process improvement efforts in quality control

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Definitions:

Economics

The social science concerned with the production, distribution, and consumption of goods and services, and the study of human behavior in allocating resources.

Weekend

The part of the week typically comprising Saturday and Sunday, commonly understood as a time of rest from work.

Commodity 1

Typically refers to a basic good used in commerce that is interchangeable with other goods of the same type; however, the context "1" could suggest a specific focus within a larger category of commodities.

Budget Line

The budget line represents the combination of goods and services that a consumer can purchase with a given budget, considering the prices of those goods and services.