One of the Common Characteristics of All Organisations Is ________

question 129

Multiple Choice

One of the common characteristics of all organisations is ________ that defines rules,regulations and values of the organisation.

• A)an explicit goal
• B)a set of written bylaws
• C)a stated purpose
• D)a structure

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Definitions:

Variable Costing

A costing method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, used for internal decision-making processes.

Net Operating Income

The net profit of a company, calculated by deducting operating expenses from the gross profit.

Absorption Costing

A financial recording strategy that encompasses all costs related to production, such as raw materials, labor directly associated with the production, and all overhead expenses, whether they vary or are fixed, as part of a product's cost.

Variable Costing

An accounting method where only variable manufacturing costs are included in product costs, with fixed overhead expenses treated as period costs.