A Practice Necessary for Safe and Efficient Organizational Operations Is

question 96

Multiple Choice

A practice necessary for safe and efficient organizational operations is called a/an

• A) economic viability requirement.
• B) business necessity.
• C) prerogative of management.
• D) bona fide occupational qualification.

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs — direct materials, direct labor, and both variable and fixed manufacturing overhead — in the cost of a product.

Operating Income

A measure of a company's profit that excludes non-operating expenses and revenues, focusing solely on the income generated from its core business operations.

Inventory Levels

The quantity of goods and materials on hand at a particular time within a company.

Variable Costing Income Statement

A financial statement showing the costs that vary directly with the level of production, separated from fixed costs.