The Integrated Group of Business Processes That Form a Supply

question 17

Multiple Choice

The integrated group of business processes that form a supply chain are

• A)marketing,manufacturing and finance
• B)procurement,production and distribution
• C)manufacturing and service
• D)demand,value,and quality

---

Definitions:

Economic Profit

The difference between the total revenues received by a business and the total opportunity costs of all resources used in the production.

Accounting Profit

The net income of a business as calculated by subtracting total expenses from total revenues, according to standard accounting practices.

Savings

Money that is not spent and is set aside for future use, often in a bank account or other financial instrument.

Financial Statements

Official records that detail the financial activities and condition of a business or individual, including the balance sheet, income statement, and cash flow statement.