The concept, which states that resources are used to meet particular goals is ____________?

Related Mcqs:

1. The decision making step, which consists of organization goals, predicting alternatives and communicating goals is called _____________?

   A. organization
   B. alternation
   C. planning
   D. valuing

2. The forgone contribution of resources, into the revenues because of not using the resources, in next best use is classified as __________?

   A. in-source cost
   B. opportunity cost
   C. offshore cost
   D. outsource cost

3. The costs that are incurred to find manufactured products, which does not meet specifications are called ____________?

   A. prevention costs
   B. external failure costs
   C. appraisal costs
   D. internal failure costs

4. The partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called ____________?

   A. spoilage
   B. rework
   C. scrap
   D. equivalence

5. The production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as ____________?

   A. reduced work
   B. spoilage
   C. rework
   D. scrap

6. Usage of more resources to develop fundamental standards is classified as ____________?

   A. potential budget response
   B. potential management response
   C. potential price response
   D. potential cost response

7. The type of accounting, which reports financial and non-financial data about the cost of material and acquiring of resources is classified as ____________?

   A. material accounting
   B. cost accounting
   C. supplies accounting
   D. business accounting

8. An average figure, for particular period which provides zero meaning feedback to marketing manager, is termed as ____________?

   A. normal capacity utilization
   B. abnormal capacity utilization
   C. standard capacity utilization
   D. infinite capacity utilization

9. An amount of additional cost incurred for any particular activity is classified as ____________?

   A. incremental cost
   B. differential cost
   C. dependent cost
   D. independent cost

10. The incurred costs to exclude the production of goods, that do not meet the specification, are called ___________?

    A. rework costs
    B. prevention costs
    C. incremental costs
    D. reengineering costs