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MIDTERM QUIZ SUMMER 2010 - MIDTERM QUIZ SUMMER 2010 1 The...

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MIDTERM QUIZ SUMMER 2010 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: Points Earned: 2.0/2.0 Correct Answer(s): D
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