An opportunity cost may be described as:
A. a specialized type of fixed cost.
B. a specialized type of variable cost.
C. a forgone benefit.
D. a historical cost.
E. a specialized type of semivariable cost.
Answer: C
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Describe the nature of the tool designed by the Institute for Local Government and the International City/County Management Association (ICMA) to assess the ethics of municipal and county government employees.
What will be an ideal response?
Merit pay is
a. a contingent amount of pay that is earned by managers whose subunits meet a target rate of return. b. always for a limited period of time and must be re-earned each period. c. any pay earned when the company is profitable. d. a pay increment received when a specific performance level is achieved.
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What will be an ideal response?
Operations consulting deals with assisting clients in developing operations strategies and improving production processes.
Answer the following statement true (T) or false (F)