Ch1 accnt - 1 All of the following are characteristics of a pull production system EXCEPT A Inventories are reduced to a minimum by purchasing raw

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1. All of the following are characteristics of a pull production system EXCEPT: A) Inventories are reduced to a minimum by purchasing raw materials and producing units only as needed to meet consumer demand. B) Raw materials are released to production far in advance of being needed to ensure no interruptions in work flows due to shortages of raw materials. C) Products are completed just in time to be shipped to customers. D) Manufactured parts are completed just in time to be assembled into products. Feedback: AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 3 Level: Medium Points Earned: 10.0/10.0 Correct Answer(s): B 2. When carrying out their directing and motivating activities, managers select a course of action and specify how the action will be implemented. A) True B) False Feedback: AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Decision Making LO: 2 Level: Medium Points Earned: 0.0/10.0 Correct Answer(s): B 3. An enterprise system integrates data across an organization into a single software system that enables all employees to have simultaneous access to a common set of data. A) True B) False
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Feedback: AACSB: Reflective Thinking AICPA BB: Leveraging Technology AICPA FN: Leveraging Technology LO: 3 Level: Easy Points Earned: 10.0/10.0 Correct Answer(s): A 4. The plans of management are often expressed formally in: A) financial statements. B) performance reports. C) budgets. D) ledgers. Feedback: AACSB: Reflective Thinking AICPA BB: Resource Management AICPA FN: Measurement LO: 1 Level: Easy Points Earned: 10.0/10.0 Correct Answer(s): C 5. Companies that choose an operational excellence strategy are in essence saying to their customers, “Choose us rather than our competitors because we strive for zero defects.” A) True B) False Feedback: AACSB: Reflective Thinking AICPA BB: Marketing AICPA FN: Decision Making LO: 2 Level: Medium Points Earned: 10.0/10.0 Correct Answer(s): B
Background image of page 2
6. Managerial accounting places considerable Persons occupying staff positions provide support and assistance to other parts of the organization. Persons occupying staff positions provide support and assistance to other parts of the organization. The Institute of Management Accountants' Standards of Ethical Conduct contains a policy regarding confidentiality that requires that management accountants: on: A) generally accepted accounting principles. B) the financial history of the entity. C) ensuring that all transactions are properly recorded. D) detailed segment reports about departments, products, and customers. Feedback: AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Measurement LO: 1 Level: Easy Points Earned: 10.0/10.0 Correct Answer(s): D 7. The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT:
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/03/2011 for the course ECON 101 taught by Professor Flah during the Spring '10 term at Punjab Engineering College.

Page1 / 13

Ch1 accnt - 1 All of the following are characteristics of a pull production system EXCEPT A Inventories are reduced to a minimum by purchasing raw

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online