Which of the Following Is Accomplished by a Small Business

question 14

Multiple Choice

Which of the following is accomplished by a small business when it secures outside investment?

• A) Business can be started by a sole individual.
• B) Founders take part in a mentoring program.
• C) It indicates a level of belief in the business and the owner.
• D) Business can be started by an individual without prior experience.

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Definitions:

Manufacturing Cost Elements

The three primary costs involved in producing goods: direct materials, direct labor, and manufacturing overhead.

JIT Processing

Just-In-Time (JIT) processing is a management strategy that aligns raw-material orders from suppliers directly with production schedules to reduce inventory costs.

Inventories

Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process or in the rendering of services.

"Push" Approach

A marketing strategy where products are "pushed" through distribution channels to the consumers, typically involving significant promotion and sales efforts.