Sound Tactical Decision Making

question 69

Multiple Choice

Sound tactical decision making

• A)only concerns the short run.
• B)consists of large scale actions that serve a broad purpose.
• C)consists of supporting the strategic objectives of the firm.
• D)only concerns the long run.

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Definitions:

Chemical Company

A business entity that specifically focuses on the manufacturing, research, and sale of chemicals and chemical-based products.

ABC Philosophy

Stands for Activity-Based Costing, a philosophy that allocates overhead and indirect costs to specific activities, leading to more accurate product or service costing.

Inventories

Assets held for sale in the ordinary course of business, or 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.

Cost Driver

A factor that causes a change in the cost of an activity or operation.