Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 1, Problem 25MC
A process that is often linked to Six Sigma and is designed toward continuous improvement by eliminating waste is ___________________________.
A. kamikaze
B. value chain
C. total quality management
D. kaizen
Expert Solution & Answer
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Check out a sample textbook solutionStudents have asked these similar questions
JIT manufacturing emphasizes
a.reduction of work-in-process inventories.
b.continuous improvement.
c.elimination of waste.
d.All of these choices are correct.
Six Sigma is a continuous quality improvement methodology that is designed to promote:
1. Improvements for existing products and business processes.
2. Development of new products or business processes.
3. Both existing product/process improvement and new product process development.
4. Statistical evaluation of critical success factors.
Key features in a just-in-time production system includes all of the following except:
A. Continous striving for quality improvement
B. Elimination of storage and handling costs
C. Prorating manufacturing lead time
D. Streamling operations
Chapter 1 Solutions
Principles of Accounting Volume 2
Ch. 1 - The managers of an organization are responsible...Ch. 1 - Management accountants help the management of an...Ch. 1 - Which of the following is a primary aspect of the...Ch. 1 - During the control function, the measurements...Ch. 1 - Which of the following is false regarding...Ch. 1 - Managerial accounting produces information: to...Ch. 1 - Management accounting: emphasizes special-purpose...Ch. 1 - Internal users of accounting information would not...Ch. 1 - External users of accounting information would...Ch. 1 - Which of the following statements is incorrect?...
Ch. 1 - The stockholders of a company are: the owners...Ch. 1 - The controller of a corporation: reports to the...Ch. 1 - The Certified Financial Analyst (CFA)...Ch. 1 - The Certified Management Accountant (CMA)...Ch. 1 - Which of the following terms means the ability to...Ch. 1 - Which of the following terms means knowing how a...Ch. 1 - What is the law that protects investors from...Ch. 1 - What year was the Sarbanes-Oxley Act enacted? 2007...Ch. 1 - When a representative of an organization gives...Ch. 1 - The law that specifically prohibits payments to...Ch. 1 - Which of the following is not a step in the...Ch. 1 - Which of the following is not an objective used in...Ch. 1 - Which of the following is not true regarding...Ch. 1 - A companys attempts to utilize sustainable...Ch. 1 - A process that is often linked to Six Sigma and is...Ch. 1 - An inventory system that organizations use to...Ch. 1 - A quality control program that depends on multiple...Ch. 1 - Carlita believes an important part of the planning...Ch. 1 - What are some activities and tasks a manager might...Ch. 1 - If there are deviations from the stated goals and...Ch. 1 - Explain how managerial accountants help managers...Ch. 1 - How do the subject matter of reports and the...Ch. 1 - What is the purpose of management accounting?Ch. 1 - Who are the primary users of the information...Ch. 1 - What are the key differences between financial...Ch. 1 - Other than accounting skills, what six qualities...Ch. 1 - Explain how having more than one of the accounting...Ch. 1 - Briefly discuss the chain of command for someone...Ch. 1 - According to the information available at...Ch. 1 - According to the information on management...Ch. 1 - What other professional business organizations...Ch. 1 - How can having a bonus system based purely on...Ch. 1 - What led to the United States Congress passing the...Ch. 1 - What is an enterprise resource planning (ERP)...Ch. 1 - Describe what is meant by the term balanced in the...Ch. 1 - What is corporate social responsibility, and who...Ch. 1 - Indicate whether each statement describes...Ch. 1 - Identify the following as True or False:...Ch. 1 - Define each of these users of accounting...Ch. 1 - Discuss what information would be most useful for...Ch. 1 - Taylor Speedy has prepared the following list of...Ch. 1 - Match the term with the description:Ch. 1 - After the passage of the Sarbanes-Oxley Act in...Ch. 1 - Indicate whether each of the following statements...Ch. 1 - Match each lean business method to the best...Ch. 1 - For each of the activities listed, choose the...Ch. 1 - Look up the definitions for the following terms:...Ch. 1 - Indicate whether the statement describes reporting...Ch. 1 - Identify the following as true or false: Financial...Ch. 1 - Companies need to report both monetary and...Ch. 1 - Marvin has been thinking about the fields of...Ch. 1 - Match the term with the description.Ch. 1 - The Foreign Corrupt Practices Act (FC PA) was...Ch. 1 - Indicate whether each of the following statements...Ch. 1 - Table 1.3 shows how different areas within the...Ch. 1 - There are individuals who are under the impression...Ch. 1 - Think about the organization chart in Figure 1.7....Ch. 1 - Controversy tends to surround the topic of...
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- A quality control program that depends on multiple team members for removing waste and diminishing defects within products is _________________. kaizen total quality management Lean Six Sigma a balanced scorecardarrow_forwardLean manufacturing is characterized by all but one of the following: a. Employee empowerment b. Total quality management c. Inventories of goods awaiting further processing or consumption d. Elimination of wastearrow_forwardWhich of the following cost categories tend to increase during the early years of TQM? Which of them tend to decrease over the years due to successful total quality management? Explain. a. Prevention b. Appraisal c. Internal Failure d. External Failurearrow_forward
- Which of the following organizational characteristics critically affect the design of a cost management system? Select one: a. Culture Critical success factors Mission Form Yes Yes Yes Yes b. Culture Critical success factors Mission Form No Yes No Yes c. Culture Critical success factors Mission Form No Yes Yes No d. Culture Critical success factors Mission Form Yes Yes No Noarrow_forwardClassifying quality costs and using these costs to make decisions Clason, Inc. manufactures door panels. Suppose Clason is considering spending the following amounts on a new total quality management (TQM) program: Requirements Classify each cost as a prevention cost, an appraisal cost, an internal failure cost, or an external failure cost. Should Clason implement the new quality program? Give your reason.arrow_forwardWhich of the following is a benefit of activity-based cost management system? a.It makes it easy to identify the overall activities that bear an influence on cost. b.It is inexpensive. c.It enhances strategic planning. d.It ensures allocation of all costs on the basis of machine hours.arrow_forward
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- True or FalseProcess value analysis is the examination, quantification, and explanation of the effects of cost drivers. The results are often used for continuous improvements programs to reduce throughput times, improve quality, and reduce costsarrow_forwardIn an effort to optimize decentralization, work towards accomplishing its mission, and achieve goal-congruence, an organization will strive to utilize a lot of planning in the design and implementation of their management system. Which of the following represents one of the four pillars of management control systems? O Performance measurement Production O Unit pricing O Irresponsibility centersarrow_forwardWhich of the following objectives would be associated with the process perspective? a. Increasing information system capabilities b. Increasing service quality c. Decreasing unit product cost d. Increasing customer satisfactionarrow_forward
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alue Chain Analysis EXPLAINED | B2U | Business To You; Author: Business To You;https://www.youtube.com/watch?v=SI5lYaZaUlg;License: Standard Youtube License