The Evolution of Management Thought Is Divided into ________ Major

question 25

Multiple Choice

The evolution of management thought is divided into ________ major sections.

• A) two
• B) three
• C) four
• D) five
• E) six

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Definitions:

Absorption Costing

Absorption costing is a method in accounting that includes all manufacturing costs - both direct and indirect - in the cost of a product.

Variable Costing

An accounting method where only variable production costs are included in product costs, with fixed overhead treated as a period cost.

Net Operating Income

A monetary measurement that determines an organization's profit by deducting operational costs from its operational revenue.

Absorption Costing

A costing method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.