chap001p2 - Chapter 001, Managerial Accounting and the...

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Chapter 001, Managerial Accounting and the Business Environment 1-5 18. 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 D. product leadership 19. 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. 20. Which of the following statements is TRUE concerning the CMA? A. To earn the CMA, an examination must be passed. B. Experience in the accounting field is not necessary to earn the CMA. C. Compliance with the Institute of Management Accountants' Statement of Ethical Professional Practice is not necessary to earn the CMA. D. Both B and C above. 21. Dorra Corporation manufactures lawnmowers in five work stations. Dorra's weekly demand is 5,000 mowers but Dorra can only produce 4,200. According to the theory of constraints, to increase production output Dorra would benefit the most by concentrating improvement efforts on the: A. first work station. B. last work station. C. largest work station. D. fastest work station. E. slowest work station.
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Chapter 001, Managerial Accounting and the Business Environment 1-6 22. Inventories consisting of units of product that are only partially complete are called _______________. A. finished goods B. raw materials C. work in process D. none of these 23. 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.
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This note was uploaded on 10/31/2011 for the course ECON 102 taught by Professor Monkey during the Spring '11 term at Cornerstone.

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chap001p2 - Chapter 001, Managerial Accounting and the...

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