Communities of Practice Are Groups of People Who Share a Concern

question 60

Multiple Choice

Communities of practice are groups of people who share a concern, a set of problems, or a passion about a topic, and who deepen their knowledge and expertise by __________.

• A) taking professional development courses
• B) going to periodic trade shows
• C) interacting on an ongoing basis
• D) attending conferences
• E) taking online courses

---

Definitions:

Fringe Benefits

Fringe benefits are additional compensation provided to employees beyond their normal wages, including health insurance, retirement plans, and paid time off.

Contribution Margin

Represents the amount of revenue remaining after deducting variable costs, contributing towards covering fixed costs and generating profit.

Production Capacity

The maximum volume of products or services a company can produce under normal working conditions.

Target Costing

A pricing method where the selling price of a product is determined first, and then production costs are managed to ensure the product can be produced within that target cost.