Jacques Torres Chocolate Is a Factory and Retail Store in Brooklyn.Its

question 64

Multiple Choice

Jacques Torres Chocolate is a factory and retail store in Brooklyn.Its owner is willing to try to produce new products when his customers suggest them-such as chili-pepper laced chocolate candy.His only condition is that when he adds new products,his customers have the final say on whether the product is of any value.According to Torres,"If something doesn't move,that's the last time you see it." By focusing on customers' wants,the chocolate company exhibits a _____ orientation.

• A) exchange
• B) product
• C) production
• D) sales
• E) market

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Definitions:

Managerial Accounting

The act of detecting, assessing, scrutinizing, and sharing economic information with executives to help in reaching the goals of an organization.

External Auditors

Professionals who independently assess the financial statements of an organization to ensure their accuracy and compliance with applicable standards.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns, often through the purchase of securities, real estate, or other investment vehicles.

Factory Overhead Costs

Indirect expenses related to the manufacturing process that cannot be traced directly to specific units produced, such as utilities and rent for the production facility.