Business Essentials - 4.02 key Terms

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

• Bottom Line

• Holding Cost

• Inputs

• Inventory

Holding cost is money it takes to keep inventory in

• Marketing

• Stock

• Route.

• Production.

Another word for resources is

• Marketing

• Output

• Input

• Purchasing

Inventory is considered

• items in production

• items in a route to customer

• items to buy

• items in hand.

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

• Timing

• Purchasing

• Output

• Inventory Control

Logistics refers to managing the flow of what?

• Finances

• Operations

• Goods and Services

• Materials

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

• Bottom Line

• Scheduling

• Output

• Operations

Output is the operations function, goods, or

• product

• services

• financing

• control

Purchasing is the act of

• buying goods and services for a business

• selling goods and services for a business

• negotiating goods and services for a business

• trading goods and services for a business

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

• Quality Control

• Operation Management

• Customer Relations

• Accounting