**Understanding the Value Chain in Business Functions**The value chain is the sequence of business functions in which:a) **Value is deducted from the products or services of an organization**b) **Usefulness is added to the products or services of an organization**c) **Producing and delivering the product or service is of prime importance**d) **Products and services are evaluated with respect to their value to the supply chain**---**Explanation:**The concept of the value chain is integral to understanding how businesses create worth and generate economic benefit through the various activities they engage in. The value chain encompasses all activities that add value to the products or services of an organization, from conception to delivery, and beyond. Each option represents a particular viewpoint or step in understanding how value is managed and perceived within an organization. For educators and students alike, comprehending how these options impact business operations and strategies can lead to more informed decision-making and efficient management practices.

The value chain refers to the sequence of business functions in which value is added to products or…

The value chain is the sequence of business functions in which A. value is deducted from the products or services of an organization B. usefulness is added to the products or services of an organization O C. producing and delivering the product or service is of prime importance O D. products and services are evaluated with respect to their value to the supply chain

The value chain is the sequence of business functions in which A. value is deducted from the products or services of an organization B. usefulness is added to the products or services of an organization O C. producing and delivering the product or service is of prime importance O D. products and services are evaluated with respect to their value to the supply chain

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 7MCQ

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Question

**Understanding the Value Chain in Business Functions**

The value chain is the sequence of business functions in which:

a) **Value is deducted from the products or services of an organization**

b) **Usefulness is added to the products or services of an organization**

c) **Producing and delivering the product or service is of prime importance**

d) **Products and services are evaluated with respect to their value to the supply chain**

---

**Explanation:**

The concept of the value chain is integral to understanding how businesses create worth and generate economic benefit through the various activities they engage in. The value chain encompasses all activities that add value to the products or services of an organization, from conception to delivery, and beyond. Each option represents a particular viewpoint or step in understanding how value is managed and perceived within an organization.

For educators and students alike, comprehending how these options impact business operations and strategies can lead to more informed decision-making and efficient management practices.

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