Student Response Value Correct Answer

The controller occupies a staff position in an organization. Student Response Value Correct Answer True 100% True Score: 1/1 2. A strategy is a game plan that enables a company to attract customers by mimicking what successful competitors do. Student Response Value Correct Answer False 100% False Score: 1/1 3. Customer value propositions tend to fall into three broad categories-theory of constraints, six sigma, and enterprise risk management. Student Response Value Correct Answer False 100% False Score.

Companies that choose an operational excellence strategy are in essence saying to their customers, “Choose us because we can deliver products and services faster, more conveniently, and at a lower price than our competitors. ” Student Response Value Correct Answer True 100% True Score: 1/1 5. A value chain consists of the major subassemblies that add value to a product. Student Response Value Correct Answer False 100% False Score: 1/1 6. Efforts designed to increase the rate of output should generally by applied to non-constraint work stations. Student Response Value Correct Answer

False 100% False Score: 1/1 7. The lean thinking model focuses on reducing defects to as close to zero as possible. Student Response Value Correct Answer False 100% False Score: 1/1 8. Six Sigma is a process improvement method that targets a system’s constraint for process improvement. Student Response Value Correct Answer False 100% False Score: 1/1 9. The Sarbanes-Oxley Act to 2002 was intended to protect the interests of those who invest in publicly traded companies by ensuring that their original investments could be recovered in case of fraud. Student Response Value Correct Answer

False 100% False Score: 1/1 10. Enterprise risk management involves replacing risky investments with investment in low-risk government securities. Student Response Value Correct Answer False 100% False Score: 1/1 11. Which of the following persons would occupy a line position in a department store? I. Sales manager II. Manager, furniture department.

The controller occupies: Student Response Value Correct Answer Feedback A. a line position. Student Response B. a staff position. 100% Student Response C. neither a line nor a staff position, since the accounting department must be independent. D. both a line and a staff position. Score: 1/1 13. Decentralization refers to: Student Response Value Correct Answer Feedback A. reporting for the company as a whole.

Store manager for Best Buy Student Response D. Human resource manager for a community college 100% Student Response Score: 1/1 15. Which of the following is NOT one of the three major customer value propositions discussed in the text? Student Response Value Correct Answer Feedback A. Customer intimacy B. Operational excellence

Student Response C. Zero defects 100% Student Response D. Product leadership Score: 1/1 16. Which of the following is NOT one of the five steps in the lean thinking model discussed in the text? Student Response Value Correct Answer Feedback A. Create a pull system that responds to customer orders. Student Response B. Automate the business process. 100% Student Response C. Identify the business process that delivers value. D. Organize work arrangements around the flow of the business process. Score: 1/1 17. Which of the following statement is TRUE concerning the CMA?

Student Response Value Correct Answer Feedback Student Response A. To earn the CMA, an examination must be passed. 100% Student Response 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. Score: 1/1 18. The Sarbanes-Oxley Act of 2002 contains all of the following provisions EXCEPT: Student Response Value Correct Answer Feedback Student Response A. A CFO must be a CPA or CMA. 100% Student Response 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 statement and accompanying disclosures fairly represent the result of operations. Score: 1/1 19. Inventories consisting of units of product that are only partially complete are called.

Student Response Value Correct Answer Feedback A. finished goods B. raw materials Student Response C. work in process 100% Student Response D. none of these Score: 1/1 20. 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: Student Response Value Correct Answer Feedback A. automating the business process. B. implementing an enterprise system. C. instituting a six sigma program. Student Response D. creating a manufacturing cell.