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Module_23_Multiple_Choice_Ans - Module 23 Multiple Choice...

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Module 23 Multiple Choice MC23-1 Value Chain LO1 Developing a value chain from the perspective of the final customer requires: Solution a. The value chain represents all of the parties involved in a transaction extending from the provider of basic raw materials to the final customer. From the perspective of the final customer the value chain is developed backwards from the customer to the provider of raw materials. MC23-2 Value Chain LO1 Which of the following actions is most likely to result from a company exploiting value-enhancing opportunities across the value chain? Solution a. Decreasing the number of supplies creates the opportunity for manufacturers and suppliers to work together as partners to create value for the final customer. MC23-3 Value Chain Perspective LO1 From a value chain perspective, value is defined by which of the following? Solution b. The final customer decides what is important in a product or service and the value assigned to it. MC23-4 Processes in a Value Chain LO1 Collections of related activities intended to achieve a common purpose are called: Solution b. Within each value chain link there are typically several processes that represent related activities. MC23-5 Value Chain Activities LO1 An activity is: Solution a. Processes are made up of activities that represent a unit of work. MC23-6 Value Chain Relationships LO1 Value chain concepts view relationships with suppliers as representing: Solution a. A value chain management approach places a high value on the relationship with suppiers, view them as partners in the value chain. MC23-7 Value-Added Perspective LO1 A value-added approach focuses an organization’s perspective on: Solution c. Unlike a value chain perspective that focuses on all links in the value chain, a value-added approach is concerned with the internal activities and costs without regard to their suppliers. ©Cambridge Business Publishers, 2008 Financial & Managerial Accounting for MBAs, 1 st Edition
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MC23-8 Pricing in Competitive Markets LO2 World-class organizations operating in competitive markets are more likely to take which one of the following approaches toward pricing? Solution b. In a competitive market, producers should always price based on what the customer is willing to pay. MC23-9 Cost-Based Pricing LO2 In a cost-based pricing approach, the last amount to be determined is: Solution c. In cost-based pricing, costs and desired profits are added together to determine the selling price of the product. MC23-10 Cost-Based Pricing LO2 For cost-based pricing in multiple-product companies, which of the following is most likely to be used as a possible cost basis? Solution a. Direct materials might be used a the cost base in cases where other costs are relatively insignificant.
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