midterm - 1. The Sarbanes-Oxley Act of 2002 contains all of...

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1. The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT: A) A CFO must be a CPA or CMA. Feedback: correct B) The audit committee of the board of directors of a company must hire, compensate, and terminate the public accounting firm that audits the company's financial reports. C) Severe penalties are established for altering or destroying documents that may eventually be used in an official proceeding. D) Both the CEO and CFO must certify in writing that their company's financial statements and accompanying disclosures fairly represent the results of operations. Points Earned: 2.0/2.0 Correct Answer(s): A 2. The process improvement method that relies on customer feedback and fact-based data gathering and analysis techniques to drive process improvement is known as: A) just-in-time production. B) lean thinking model. C) Six Sigma. D) Theory of Constraints Points Earned: 2.0/2.0 Correct Answer(s): C 3. Which of the following is NOT one of the five steps in the lean thinking model discussed in the text? A) Create a pull system that responds to customer orders. B) Automate the business process. Feedback: correct C) Identify the business process that delivers value. D) Organize work arrangements around the flow of the business process.
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Points Earned: 2.0/2.0 Correct Answer(s): B 4. One of the steps in the lean thinking model is to organize work arrangements around the flow of the business process. This is often accomplished by: A) automating the business process. B) implementing an enterprise system. C) instituting a six sigma program. D) creating a manufacturing cell. Feedback: correct Points Earned: 2.0/2.0 Correct Answer(s): D 5. Which of the following is NOT one of the three major customer value propositions discussed in the text? A) customer intimacy B) operational excellence C) zero defects Feedback: correct D) product leadership Points Earned: 2.0/2.0 Correct Answer(s): C 6. Since the early 1980's, companies have gone through several waves of improvement programs. All of the following represent improvement programs except: A) Just-in-time (JIT). B) Total Quality Management (TQM). C) Process Reengineering.
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D) Control Theory (CT). Points Earned: 2.0/2.0 Correct Answer(s): D 7. Decentralization refers to: A) reporting for the company as a whole. B) focusing reporting on parts of the company. C) the delegation of decision-making authority throughout an organization. Feedback: correct D) differences in organizations. Points Earned: 2.0/2.0 Correct Answer(s): C 8. The following cost data pertain to the operations of Lefthand Department Stores, Inc., for the month of December. The Brentwood Store is just one of many stores owned and operated by the company. The Shoe Department is one of many departments at the Brentwood Store. The central
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This note was uploaded on 07/10/2010 for the course ACCOUNTING 222 taught by Professor Cordes during the Spring '10 term at Johnson County Community College.

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midterm - 1. The Sarbanes-Oxley Act of 2002 contains all of...

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