Accounting

ACC 711: TEST QUESTIONS FROM CH 1- 4 THERE ARE NO Ch 5 Q’s

Student: ___________________________________________________________________________

1. A staff position: 

A.  relates directly to the carrying out of the basic objectives of the organization.

B.  is supportive in nature, providing service and assistance to other parts of the organization.

C.  is superior in authority to a line position.

D.  none of these. 

2. ______________ is an example of a line position. 

A.  Controller for a merchandising company

B.  Chief financial officer of a merchandising company

C.  Store manager for Best Buy

D.  Human resources manager for a community college

3. Which of the following is NOT one of the five steps in the lean thinking model discussed in the text? 

A. Continuously pursue perfection in the business process.

B. Identify value in specific products/services.

C. Implement an enterprise system.

D. Create a pull system that responds to customer orders.

4. One consequence of a change from a push to a properly implemented pull production system can be: 

A. an increase in work in process inventories.

B. an extremely difficult cultural change due to enforced idleness when demand falls below production capacity.

C. an increased mismatch between what is produced and what is demanded by customers.

D. an increase in raw materials inventories.

5. 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.

6. The Sarbanes-Oxley Act of 2002 contains all of the following...