test1bus202 - 1. Chapter 1 # 1.1 (got 0/1 pts.) Customer...

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1. Chapter 1 # 1.1 (got 0 /1 pts.) Customer value propositions tend to fall into three broad categories–theory of constraints, six sigma, and enterprise risk management. You selected this answer. Your answer is INCORRECT. True False # 1.2 (got 0 /1 pts.) The lean thinking model focuses on reducing defects to as close to zero as possible. You selected this answer. Your answer is INCORRECT. True False # 1.3 (got 1 /1 pts.) The Institute of Management Accountants' Statement of Ethical Professional Practice specifically states, among other things, that management accountants have a responsibility to keep information confidential except when disclosure is authorized or legally required. You selected this answer. Your answer is CORRECT. True False
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# 1.4 (got 1 /1 pts.) Six Sigma is a process improvement method that targets a system's constraint for process improvement. True You selected this answer. Your answer is CORRECT. False # 1.5 (got 1 /1 pts.) A value chain consists of the major sub- assemblies that add value to a product. True You selected this answer. Your answer is CORRECT. False # 1.6 (got 0 /1 pts.) The Controller occupies a staff position in an organization. True You selected this answer. Your answer is INCORRECT. False
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# 1.7 (got 1 /1 pts.) 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. D. differences in organizations. A. B. You selected this answer. Your answer is CORRECT C. D.
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# 1.8 (got 1 /1 pts.) 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. C. Identify the business process that delivers value. D. Organize work arrangements around the flow of the business process. A. You selected this answer. Your answer is CORRECT B. C. D. 2. Chapter 2 # 2.1 (got 1 /1 pts.) Direct labor is a part of both prime cost and conversion cost. You selected this answer. Your answer is CORRECT. True False
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# 2.2 (got 1 /1 pts.) Wages paid to production supervisors would be considered direct labor. True You selected this answer. Your answer is CORRECT. False # 2.3 (got 1 /1 pts.) Advertising is a product cost as long as it promotes specific products. True You selected this answer. Your answer is CORRECT. False # 2.4 (got 1 /1 pts.) If the finished goods inventory increases between the beginning and the end of a period, then the cost of goods manufactured for the period is larger than the cost of goods sold. You selected this answer. Your answer is CORRECT. True False
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# 2.5 (got 1 /1 pts.) The cost of goods manufactured for a period is the amount transferred from work in process inventory to finished goods inventory during the period. You selected this answer.
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This note was uploaded on 12/09/2010 for the course ACCT BUS 202 taught by Professor Tewes during the Fall '10 term at Cochise College.

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test1bus202 - 1. Chapter 1 # 1.1 (got 0/1 pts.) Customer...

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