An Organization That Uses the Internal Systems Approach to Measure

question 20

Multiple Choice

An organization that uses the internal systems approach to measure organizational effectiveness will most likely employ technology to ________.

• A) increase customer service
• B) reduce costs
• C) improve quality
• D) reduce product development time

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Definitions:

Physical Inventory

The process of counting the actual items of inventory in stock to verify records and accounts.

Single-Step Income Statement

A form of income statement in which the total of all expenses is deducted from the total of all revenues.

Gross Profit

The difference between sales revenue and the cost of goods sold before deducting overhead, payroll, taxes, and interest.

Income from Operations

The earnings generated from a business's core activities, excluding revenues and expenses from non-operational activities.