Businesses Need to Control Their Day-To-Day Operations in Order to Ensure

question 111

Multiple Choice

Businesses need to control their day-to-day operations in order to ensure that:

• A)sales are not lost because desired goods are not in stock.
• B)money is not tied up in excessive inventory.
• C)the loss of inventory and cash to theft is minimized.
• D)all of the above.

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Definitions:

Schedule Variance

Schedule variance is a project management metric that measures the difference between the planned and actual progress of a project, used to assess project health and performance.

Cost Variance

The difference between the budgeted cost of a task or project and the actual cost incurred.

Spending

The act of utilizing financial resources to purchase goods, services, or assets, or to cover operating costs.

Cost Aggregation

The process of combining individual costs or expenses to form a summary total.