which of the following statements is false? group of answer choices because forecasting exchange rates is subject to considerable error, managers of multinational corporations should complement their forecast with one from another source. the ability to forecast currency values may vary with the currency of concern. managers of different functional areas at a multinational corporation should use its proprietary model to forecast exchange rate movements so that the extreme forecasts cancel each other out and the average forecast represents the most likely outcome. managers should be skeptical of foreign projects that are feasible only if one particular model is used to forecast exchange rate

Answers

Answer 1

Projections should typically be developed by a centralized department rather than a department that is only responsible for the sales of a certain product in order to apply forecasting exchange rates uniformly. This statement is false.

Forecasts of exchange rates' projected values for the following four quarters are made every three months. They are carried out by economists and currency experts who work for investment banks and portfolio management companies.

To assess the foreign-denominated cash flows involved in international transactions, exchange rate projections are required. Forecasting currency rates is crucial for assessing the advantages and dangers of the global economic environment.

Forecasts based on these "wrong" parameters may be more off-base than those produced by a random walk if the coefficient values are distorted from their real values.

Complete question:

Which of the following statements is FALSE?

A - The ability to forecast currency values may vary with the currency of concern.

B - Because forecasting exchange rates are subject to considerable error, managers of multinational corporations should complement their forecasts with one from another source.

C - To apply FX forecasts consistently, forecasts should normally be established by a centralized department and not form a department focused on the sales of a particular product.

D - Managers of different functional areas at a multinational corporation should use its proprietary model to forecast exchange rate movements so that the extreme forecasts cancel each other out and the average forecast represents the most likely outcome.

E - Managers should be skeptical of foreign projects that are feasible only if one particular model is used to forecast the exchange rate.

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Related Questions

financial control is a process through which a firm periodically compares its budget to which of the following? (select all that apply) multiple select question. expenses revenues costs market share stock price

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Financial control is the process through which a firm periodically compares its budget to :

revenuesexpensescostsWhat is meant by financial control?

The methods, procedures, and techniques used by an organization to monitor and manage the use, allocation, and direction of its financial resources are known as financial controls. Any organization's resource management and operational effectiveness are fundamentally dependent on its financial controls.

Financial controls are laws and practices intended to stop or catch fraud and accounting irregularities. Financial controls include things like double-counting cash deposits and account reconciliation.

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Financial control is a process through which a firm periodically compares its budget to which of the following? (Select all that apply)

Multiple select question.

(A) stock price

(B) revenues

(C) expenses

(D) market share

(E) costs

Income TaxesThe FICA Tax (LO 9.3)(No COVID provisions) Lamden Company paid its employee, Trudy, wages of $61,500 in 2020. Calculate the FICA tax:Round your answers to two decimal places.Withheld fromTrudy's wages: Social Security $fill in the blank 1Medicare $fill in the blank 2Paid by Lamden: Social Security $fill in the blank 3Medicare $fill in the blank 4Total FICA Tax $fill in the blank 5

Answers

The different taxes to be withheld from Trudy's wages and the amount to be paid by Lamden include:

Withheld from Trudy :

Medicare - $891. 75Social security - $ 3, 813

Paid by Lamden :

Medicare - $891. 75Social security - $ 3, 813

The total FICA taxes would be $9, 409.50.

How to find the taxes ?

The amount withheld from Trudy ' s wages is:

= Wages x social security tax rate

= 61, 500 x 6.20%

= $ 3, 813

The amount withheld for Medicare is :

= 61, 500 x 1.45%
= $ 891 .75

This amount will be matched by Lamden so the total is:

= 3, 813 + 3, 813 + 891. 75+ 891 .75

= $ 9, 409 .50

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companies need a customer relationship management program in order to? companies need a customer relationship management program in order to? all of these answer choices are correct acquire new customers meet the changing expectations of customers none of the other answer choices are correct retain their existing customers

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Companies need a customer relationship management program in order to gain new consumers, keep their current ones, and adjust to changing client demands.

what is customer relationship management (CRM) ?

(CRM) is the transformation of the people, process, and technology required to become a customer-centric organization. It is a philosophy of putting the customer first, it involves acquiring, retaining and partnering with selective customers to create superior value for both the company and the customer, it provides a means and a method to enhance the experience of individual customer so that they will remain customers for life.

What is the Function of CRM in Supply Chain Management?

In order to succeed, a business must find ways to satisfy its customers; otherwise, just as any company would react to a non-performing supplier, the customer leaves and takes years' worth of future purchases with them. In addition, businesses must develop ways to become and remain good suppliers themselves because many businesses do not sell their goods directly to end users.

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which of the following approaches to submitting a recommendation to your boss focuses on a direct benefit? a. emphasizing how your idea saves the company money. b. anticipating reasons for resistance. c. backing up your suggestions with facts and evidence. d. stating your suggestions confidently and fairly.

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Backing up your suggestions with facts and evidence is an approach to submitting a recommendation to your boss focuses on a direct benefit.

Types of benefits

The benefits that need to be taken into account in the cost benefit analysis include:

Direct benefit is an increase in revenue or sales from a new product that is created. The indirect benefit is an increase in consumer desire for a brand. Benefits are not tangible (intangible benefits), for example, employee morale is getting better because the company's profits are increasing. Competitive benefits are benefits that have an influence on competitiveness. For example, being named the 3 largest companies in the industry that is currently running.

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g which of the following is an example of trade policy at the regional level? a congress passing legislation to prevent dumping b the general agreement on tariffs and trade being made c the european union adopting a common currency d the world trade organization holding a round of negotiations in france

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The Congress passing legislation to prevent dumping an example of trade policy at the regional level.

What is dumping in trade policy?

A scenario of international price discrimination known as "dumping" occurs when a product's price in the market of the importing country is lower than its price in the market of the exporting country. When it feels that a product is being "dumped" by being sold at a low price in the domestic market, the government puts anti-dumping duties on imports from abroad.

A home government may levy an anti-dumping charge on imports from abroad that it deems to be being sold below fair market value. One of a number of American laws intended to stop unfair trade practices is the Antidumping Act of 1921. Congress passed legislation to prevent dumping an example of trade policy at the regional level.

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what is arbitrage? why does the internal revenue service place strict limits on the amount of arbitrage that a municipality can earn

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Arbitrage is the simultaneous purchase and sale of a single asset or a group of related assets in various markets with the goal of making a profit from minute variations in the asset's quoted price.

It takes advantage of brief fluctuations in the cost of identical or comparable financial products on various markets or in various forms. Arbitrage offers a way to make sure that prices don't diverge significantly from fair value over an extended period of time. Technology improvements have made it very challenging to profit from pricing mistakes in the market.

A lot of traders have automated trading programs configured to track changes in similar financial instruments. Any ineffective price structures are typically addressed immediately, frequently within a few seconds, and the opportunity is lost.

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which two industries are significantly influenced by laws regulating product purity and labeling?

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Food and pharmaceutical industries are significantly influenced by laws regulating product purity and labelling.

What are the labelling specifications?

In general, food product labels must inform customers of the contents (including any possible allergens), the "best before" or "use by" date, the nation of origin, and nutritional data. Additionally needed is the manufacturer's or distributor's address.

What are Labeling's Importances?

Additionally, labels offer detailed details including the item's size, components, usage guidelines, storage requirements, and more. All of this provides the customer with helpful information while also assisting in bringing the product to life.

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dispatchers at 9-1-1 call centers are never required to work overtime or on weekends and holidays. is the previous statement true or false?

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The statement, dispatchers at 9-1-1 call centers are never required to work overtime or on weekends and holidays, is a false statement.

What is 9-1-1?

Emergency numbers in the United States, Canada, Mexico, Panama, Palau, Argentina, Philippines, Jordan, and the North American Numbering Plan (NANP), one of eight N11 codes, are 9-1-1, sometimes abbreviated as 911. This number, like others used in emergencies across the world, is only to be used in emergency situations. Most jurisdictions consider it illegal to use it for any other reason, including making prank or fake calls.

What are call centers?

A controlled capacity that can be centrally located or remote that is used for receiving or sending a high volume of phone inquiries is known as a call centre (Commonwealth spelling) or a call centre (American spelling; see spelling variants). A business runs an inbound call centre to handle incoming customer product or service support or information requests. Outbound call centres are typically used for sales activities like telemarketing, contribution solicitation for charities or political causes, debt collection, market research, emergency notice, and blood banks for urgent or critical requirements.

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dispatchers at 9-1-1 call centers are never required to work overtime or on weekends and holidays. is the previous statement true or false?

Of The Following Is The Best Example Of An Oligopolistic Industry. A. Automobiles Production B. Grocery Stores C. Soybean Farming
D. Electric Power

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A. Automobile Production is the best example of an oligopolistic industry.

In the field of business, an oligopolistic industry can be described as an industry in which there are lower firms and hence the forms can put a sales price of their choice.

An oligopolistic industry will have lesser competition because there are lesser firms of the same kind in the market. As a result, the oligopolistic industry forms have independent pricing.

An example of an oligopolistic industry is automobile production. There are lesser forms involved in automobile production hence the pricing of automobiles is independent for each firm.

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sheffield, inc. manufactures afghans. the budgeted units to be produced and sold are as follows: august september expected production 3,450 3,100 expected sales 3,200 4,200 it takes 20 yards of yarn to produce an afghan. the company's policy is to maintain yarn at the end of each month equal to 5% of next month's production needs and to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated production needs. the cost of yarn is $0.20 a yard. at august 1, 3,450 yards of yarn were on hand. compute the budgeted cost of direct materials purchases for august. budgeted cost of direct materials purchases for august $

Answers

The budgeted cost of direct materials purchases of sheffield, inc.for august is $15660.

What is budgeted cost of direct materials?

The budgeted cost is an estimated cost that would be incurred in future. This is a provisional study of cost elements in order to know the liquidity and management of funds in advance. This is also refers to planning of anticipated cost estimation.

The budgeted cost of direct materials will be the amount of expenses that should be payable in future to acquire the material required for production.

Given information:

a) Expected Production:

August  = 3450 unitsSeptember  = 3100 units

b) Sales:

August  = 3200 unitsSeptember  = 4200 units

c) Input - Output Ratio:

1 Unit of Afghan = 20 yards of yarn

d) No. of units purchased during August month = (Production Units + Closing Stock of Finished Goods - opening stock of finished goods) × No. of yards required for manufacture one unit of afghan.

e) No. of Units purchased ={3450 units + 620 units (3100 × 20%) - 155 units (3100 units of September × 5%)} × 20 ⇒ 3915 units × 20 ⇒ 78300 yards of yarn to be purchased.

f) Cost of Direct material yarn = Rate × Quantity

                                                 ⇒ $0.20 × 78300 yards

                                                 ⇒ $15660

Therefore as per the given instruction the cost of direct materials is  $15660.

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the intersection of a firm's marginal revenue and marginal cost curves determines the level of output at which question 8 options: total revenue is equal to variable cost. total revenue is equal to fixed cost. total revenue is equal to total cost. profit is maximized.

Answers

The intersection of a firm's marginal revenue and marginal cost curves determines the level of output when profit is maximized.

What Is the relationship between Marginal Cost and Marginal Revenue?

Marginal cost  can be explained as the extra expense that is been incurred by a business  when producing one additional product or service.

It shouyld be noted that the Marginal revenue, can be perceiuved as the incremental increase in revenue that a business experiences  wshen the production of  one more product or service has been achieved.

In conclusion,  In economics, the marginal cost is which can be seen as the change in the total cost  that comes up in a case whereby  the quantity produced is incremented, as well as the cost of producing additional quantity ios very important to calculat, hence in the case above the  profit is maximized.

Therefore, option D is correct.

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If the economy is experiencing less than full-employment, the keynesian model recommends that the government.

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If the economy is experiencing less than full-employment, the Keynesian college recommends that the government: undertake stimulative fiscal policy (increase authorities spending or reduce taxes)to stimulate combination demand.

What is the Keynesian view of full employment?

British economist John Maynard Keynes spearheaded a revolution in monetary questioning that overturned the then-prevailing notion that free markets would robotically furnish full employment—that is, that everyone who wanted a job would have one as long as people had been bendy in their wage demands

According to Keynes' own principle of profits and employment: "In the brief period, degree of national income and so of employment is decided through mixture demand and mixture provide in the country.

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Compared to a channel of distribution, a supply chain is

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In contrast to a distribution route, a supply chain is longer as a result of the supplier linkages.

What connection exists between a supply chain and a distribution channel?

By reducing inventory and transferring items from producers to end users quickly, supply chain management increases the efficiency of logistics services. A distribution channel is the collection of marketing organizations that products transit through on their path from producers to end users and consumers.

What role does supply chain management's distribution channel design play?

Your supply and demand must be balanced, which calls for supply chain distribution. Your distribution plan should be able to adapt to changes in the market, such as disruptions in the supply chain and an increase in demand. Reducing the amount of interactions required to move a product from supplier to customer is the goal of the distribution chain.

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A taxpayer faces the following tax rates on her income: 20 percent of the first $40,000 of her income; 30 percent of all her income above $40,000. The taxpayer faces:
a. an average tax rate of 22.5 percent when her income is $30,000.
b. an average tax rate of 22.0 percent when her income is $50,000.
c. a marginal tax rate of 10 percent when her income rises from $40,000 to $40,001.
d. a marginal tax rate of 50 percent when her income rises from $60,000 to $60,001.

Answers

When the taxpayer earns $50,000, she is subject to the an average rate of taxes of 22.0 percent.

What payment is a tax?

Tax Payments are cash payments for federal, state, and municipal I income, franchise, and other comparable taxes and levies levied on or measured by net income and paid or paid by or for behalf of the borrowers and its businesses or directly attributable.

What is basic tax?

A whole number of assets or earnings that can be collected by a taxing body, typically the government, is referred to as the tax base. It is employed to figure out tax obligations. This can take many different forms, such as money or real estate.

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Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one yard of material is $7.50. During the month, 8,400 chairs were manufactured, using 43,700 yards at a cost of $7.30 per yard. Enter favorable variances as negative numbers.
Determine the following:
a. Price variance $ Favorable or not b. Quantity variance $ Favorable or not c. Cost variance $ Favorable or not

Answers

Differences in Direct Materials

In standard costing, the total direct materials cost variance is divided into two components: one generated by a change in the material purchase price, and the other by a difference in the quantity actually used to make the output.

Organising the information is the first step.

Actual quantity times the actual price or rate

Actual quantity x the going rate or pricing

Standard quantity times a standard rate

Direct resources

43,700 x $7.30 = $319,010

43,700 x $7.50 = $327,750

8,400 x 5 = 42,000 x $7.50 = $315,000.

(AQ x AP) - (AQ x SP) = $319,010 - $327,750 = -$8,740 F Material price variance (because actual is better than budget)

Variance in material amount (AQ x SP) - (SQ x SP) = $12,750 U.

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concluding that a company is in violation of antitrust laws because it controls over 90 percent of the market is an application of judgment by:

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The act of concluding that a company is in violation of antitrust laws because it controls over 90 percent of the market is an application of judgment by performance.

What is a judgment by performance?

Basically, a Judgement refers to the decision carried out in the courts under a court order that concludes disputes of two people or parties by listening to a claim of both parties and determining which party is correct.

Judgements are always monetary, but can also be non-monetary and legally enforceable. In most cases, the judgment is based on money since money is the only form used as compensation.

The judgment by performance implies the competitiveness of the markets evaluated by the conduct of companies in this industry. Under this, the evaluation by the team focuses on how the firms behave in the market.

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The Transmittal of Wage and Tax Statements, Form W-3 is due to the Social Security Administration on:
the last day of February

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An employee's salary and contributions for the prior tax year are listed on a W-3 form, also known as the Transmittal of Wage and Tax Statements form. The Social Security Administration (SSA) receives this paperwork for proper filing.

Most employers are required by the IRS to submit Forms W-2 and W-3 at the start of each year for the prior year. A list of all the W-2 forms you are sending to the federal government is contained in Form W-3 (Transmittal of Wage and Tax Statements). Form W-3 specifies the number of W-2 forms being delivered and describes the total wages, Social Security wages, federal income tax withheld, and FICA tax withheld from employees during the year.

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in a cost-benefit analysis the development or purchase of software is generally considered a(n)

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In a cost-benefit analysis the development or purchase of software is generally considered an acquisition cost.

A method of choosing where one considers the advantages and disadvantages of several options to determine whether the advantages outweigh the disadvantages.

In general, cost-benefit analysis is totaling all expenses associated with a project or choice, deducting those costs from the project's or decision's predicted benefits, and then comparing the results. (Occasionally, a ratio is used to show this value.)

Even when the interventions are not directed at the same objectives, cost-benefit analysis enables assessors to compare the economic efficacy of program options.

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Heather works at big city bus corp. It is her job to record the day-to-day financial transactions of the company, including paying utilities and accepting bill payments. Heather works as a _____.

Answers

Her responsibility is to keep track of all daily financial transactions for the business, such as paying bills and for utilities. Working as a bookkeeper is Heather.

What does a bookkeeper actually do?

It is the duty of bookkeepers to deliver correct, current financial data about a company. They are always monitoring the state of a company. Their reports are typically sent to managers and corporate owners to aid in decision-making.

Is being the bookkeeper stressful?

Actually, maintaining the finances for a company may be a really difficult task. You must not only ensure that every comma, decimal, and number is in its proper place but you must also keep an eye on each employee to ensure that they provide the information you need.

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samson rents rooms in his hotel for an average of $100 per night. the variable cost per rented room is $20, to cover maid service and utilities. his fixed costs are $100,000 and his profit last year was $20,000. for samson, the contribution per unit is

Answers

Rent per night = $100

Variable cost per rented room = $20

Fixed cost = $100,000

Profit last year = $20,000

find samson contribution of per unit

Selling price per unit minus variable costs per unit equals contribution per unit. The equation is as follows:

contribution margin per unit=Selling price per unit -variable cost per unit

In this case, the selling price per unit equals the hotel's nightly rent. When we enter the given values into the formula above, we obtain,

the contribution per unit = $100-$20=$80.

so answer is $80.

What does a selling price mean?

The amount a customer pays for a good or service is known as the selling price. It can change based on the price that consumers are prepared to pay, the seller is willing to take, and how competitive the price is in relation to other companies in the market. It might aid a company in determining the selling price in accordance with the anticipated profit margin. Let's say a corporation wants to generate a 20% margin on a $10 product. It must be sold for $12.5.

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miller collected $70,000 of cash from its receivables accounts. the company estimates that it will be unable to collect 3% of its sales on account. what is the amount of uncollectible accounts expense that will be recognized on the year 1 income statement?

Answers

$29,910 -  The final accounts receivable balance is $33,000 ($0 initial balance + $103,000 in revenue on account - $70,000 in collections, $3,090 is the final amount of the allowance for doubtful accounts, $33,00 - $3,090 = net realizable value of $29,910).

What is cash from receivable accounts?

Receivables from customers represent a short-term obligation for them as well as cash to one's organization. How long one can wait for a customer to pay depends on the cash flow factors. The supplier reports the short-term credit as current assets on the balance sheet, which has an impact on cash flow as accounts payable.

Is cash similar to accounts receivable?

Accounts receivable are, in other words, short-term lines of credit that a business owner offers to the client.

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Malcolm should have explained how each person could benefit from completing his or her part of the project, which would be using what influence tactic?.

Answers

Malcolm should have explained how each person could benefit from completing his or her part of the project, which would be using apprising influence tactic.

How will the actions benefit the followers personally or develop their jobs, which makes the tasks more desirable?

Utilizes flattery and praise to win people over. Personal requests, Requests that are made in the name of friendship or personal favour.

What do influencing strategies entail?

The 10 positive influence techniques—logical persuasion, legitimising, trading, asserting, socialising, appealing to relationships, consulting, alliance-building, appealing to ideals, and modelling are what people commonly try to use to lead and/or influence others, according to research.

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smith company the following information on the financial statements: net income $50,000 preferred dividends 8,000 average common stockholder’s equity 180,000 average number of common shares outstanding 250,000 shares market price $2 per share what is the earnings per share (to the nearest penny)?

Answers

0.17, The monetary worth of an organization's earnings per outstanding share of common stock is known as earnings per share.

Is a high profit per share desirable?

Calculating earnings per share

You would deduct those from the earnings if the company was required to distribute preferred dividends. When a company has a high EPS, it has done well during the earnings period and investors are prepared to pay more for its shares, increasing its value to current investors.

A healthy EPS is what?

What makes a good EPS is a question that has no clear solution. When comparing businesses, it is beneficial to pay special attention to how EPS is trending and how it compares to rival companies' earnings. Keep in mind that higher EPS can imply expansion and rising stock prices.

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______ represents the degree to which employees are accepted and treated fairly by their organization.

Answers

Inclusion represents degree to which the employees are accepted and treated fairly by organization.

What makes organization crucial?

However, sustaining organization can improve your health and make you happier and more at ease. Your life can become chaotic if you're disorganized. It could result in despair and more tension. Disorganization can be a fire risk, as well as a source of mold growth and dust accumulation.

What are the features of organization?

To enable people to collaborate most productively in achieving goals, organization is the process of identifying and grouping the work that needs to be done, defining and delegating responsibility and authority, and building relationships.

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in 1999, two pharmaceutical companies that held an equal market share decided to pool their operations to create a new firm that was known by a different name. this is an example of a(n):

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An illustration of a merger is this. A merger is a business transaction in which two independent, presently operational businesses combine to create a single, new legal entity.

Combine is the same as merge. Both companies aim to gain from the acquisition and are frequently similar in size and scope. Company mergers, which increase the product offering, vertical mergers, which benefit from already-existing independent, and horizontal mergers, which increase market share, are the three main types of mergers. Mergers and acquisitions refer to the process by which two companies come together, either through a merger (company merger process) or by one purchasing the other to become a part of a larger company.

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a treasury bill purchased in december 2020 has 143 days until maturity and a bank discount yield of 2.18 percent. assume a $100 face value. a. what is the price of the bill as a percentage of face value?

Answers

The price of the bill as a percentage of face value is $99.17 to percent face value of 2%.

given that :

face value = $100

discount yield = 2.18 % = 0.0218

time = 143 days

discount yield = [ (FV - P)/ P ]× (360/ d)

    0.0218        = [( 100 - P )/P] × 360/143

0.0218P = (100 - P ) 2.517

0.0218 P + 2.517 P = 251.7

P = 251.7 /2.538

P = $99.17

now, the bond equivalent yield is given as :

BEY = ( face value - purchase price ) / purchase  price × 360 / day

BEY = ( 100 - 99.17 ) / 99.17  × 36 / 143

BEY = 0.0083 ×  2.517

BEY = 0.020

BEY to percent = 2%

Thus, the price of the bill is $99.17.

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an employer agrees to pay $15,900 for medical insurance and contribute an additional 5% of the employees' $159,000 gross salaries to a retirement program. the entry to record these accrued benefits is:

Answers

Debit to employee advantages cost $15,900

Medical health insurance - $15,900

Retirement program value = ($$15,900*5%) = $7,one hundred

general worker gain expense = ($14,2 hundred + $7,100) = $21300

The overall expense debited to the worker benefits rate account with $21,300.

More, in particular, an organization is a corporation, institution, government entity, corporation, organization, expert services firm, nonprofit affiliation, small business, save, or the person who employs or puts to paintings people who may be called personnel or workforce members.

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which of the following correctly describes what happens to aggregate demand when government spending increases? group of answer choices aggregate demand decreases, and it shifts to the right. aggregate demand increases, and it shifts to the left. aggregate demand increases, and it shifts to the right. aggregate demand decreases, and it shifts to the left.

Answers

Aggregate demand decreases, and it shifts to the right describes what happens to aggregate demand when government spending increases. In macroeconomics, aggregate demand refers to the total demand for goods produced in the United States, which includes consumer goods, services, and capital goods.

The total amount of demand for all finished goods and services produced in an economy is measured as aggregate demand. The total amount of money exchanged for government goods and services at a specific price level and point in time is referred to as aggregate demand. Aggregate demand refers to the total demand for goods and services in any economy.

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cost of​ equity: sml. stan is expanding his business and will sell common stock for the needed funds. if the current​ risk-free rate is ​% and the expected market return is ​%, what is the cost of equity for stan if the beta of the stock is a. ​? b. ​? c. ​? d. ​?

Answers

The needed rate or return, abbreviated r, is the minimal return required by investors to invest inside a company's shares, and it is calculated using the SML approach. This is also measured at cost of equity.

What factors affect equity cost?

Factors including dividend per share, share market value, dividend, beta, risk-free gain, and anticipated market return can all have an impact on the cost of equity. Risk, risk of inflation, exchange risk, and other factors can have an impact on the cost of capital.

What causes a negative cost of equity?

It occurs when a firm's liabilities outweigh its assets, or, to put it in broader financial terms, when the company has sustained losses that are bigger than the sum of all dividend payments and accrued earnings from prior periods.

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what is a common approach using the professional expertise within an organization to develop and maintain the organization's information technology systems? group of answer choices insourcing outsourcing business process outsourcing offshore outsourcing

Answers

Outsourcing is a common approach using the professional expertise within an organization to develop and maintain the organization's information technology systems.

How Does outsourcing Work?

The practise of employing a third party from outside a business to carry out tasks or produce commodities that were previously completed in-house by the business's own employees and personnel is known as outsourcing. Companies typically engage in outsourcing as a cost-cutting strategy. As a result, it may have an impact on a variety of occupations, including customer service, manufacturing, and back-office work.

In the 1990s, outsourcing became a crucial component of corporate economics after it was initially acknowledged as a business strategy in 1989.

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