The Value Chain for a Service Entity Includes

question 38

Multiple Choice

The value chain for a service entity includes:
i. design.
ii. purchasing.
iii. marketing.
iv. distribution.

• A) i, ii and iv
• B) ii and iii
• C) i and iii
• D) i, ii and iii

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Definitions:

Standard Costs

Predetermined costs for manufacturing a product or delivering a service, used as targets or benchmarks.

Variances

The differences between planned, budgeted, or standard costs and actual costs.

Widgets

A generic term often used to refer to any product or manufactured item for examples or hypothetical situations.

Fixed Factory Overhead

The regular, consistent costs associated with operating a factory that do not vary with production volume, such as rent, salaries, and utilities.