AFM482 Study Guide - Midterm Guide: Opportunity Cost, Printed Circuit Board, Variable Cost
25 Oct 2014
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Document Summary
The four questions below are provided to give you an idea of the nature of the questions that might be asked and expected responses on the upcoming afm 482 midterm. They do not cover all of the material we discussed in class they are samples only. General motors was formed in 1908 when buick motors merged with a number of different firms. William durant, the founder of general motors, preferred buying other companies rather than building them from scratch. He also had little interest in bringing these many divisions under centralized control. He concluded that the company"s many activities were too varied to be controlled centrally. Instead, the firm was organized by the markets served: cars, trucks and parts. Each division operated autonomously in these well-defined markets. The divisions submitted monthly and quarterly forecasts of sales and costs which were approved by central management and used to judge performance of the division.
