1

1. _____________________ is defined as the identification and selection of activities to maximize the value of the activities while minimizing their cost from the perspective of the final consumer.

   Activity-based costing

   Activity-based management

   Strategic cost management

5 points

QUESTION 2

1. Which of the following is a value-added activity?

   Set-up

   Movement

   Machine Operations

   Inspection

5 points

QUESTION 3

1. Contribution margin means:

   what remains from total sales after deducting fixed expenses.

   what remains after deducting cost of goods sold to cover fixed and variable expenses.

   the sum of cost of goods sold and variable expenses.

   what remains from total sales after deducting all variable expenses.