Business Essentials - 4.02 key Terms

Front

What is a business’s net income; the decisive point?

Back

Bottom Line

Front

Holding cost is money it takes to keep inventory in

Back

Stock

Front

Another word for resources is

Back

Input

Front

Inventory is considered

Back

items in hand.

Front

Tracking the amount, the kind, and the value of inventory that a business has on hand is known as

Back

Inventory Control

Front

Logistics refers to managing the flow of what?

Back

Goods and Services

Front

What is the day-to-day activities for continued business functioning?

Back

Operations

Front

Output is the operations function, goods, or

Back

services

Front

Purchasing is the act of

Back

buying goods and services for a business

Front

What position is known for ensuring the degree of excellence of a product?

Back

Quality Control