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    How does an ERP system differ from an MIS?
    1 The ERP system informally links the different areas of management for specific purposes.
    2 There is no difference.
    3 The ERP system combines all areas of management into one centralized data warehouse.
    4 The ERP system can be used only in a service business.

    Quality costs of conformance and costs of nonconformance are related to each other:
    1 rarely.
    2 directly.
    3 indirectly.
    4 inversely.

    The overall objective of controlling the costs of quality is to eliminate:
    1 appraisal costs.
    2 costs of nonconformance.
    3 costs of conformance.
    4 the costs of quality.

    Some companies have moved to JIT without changing the substance of their accounting systems. Relying on the former accounting system may present problems for management because:
    1 traditional accounting systems are designed to track items (labor efficiency, purchase price, overhead absorption) that are no longer primary concerns of management.
    2 control of cost drivers will be lost.
    3 managers do not understand the new manufacturing environment.
    4 traditional accounting systems discourage the creation of large inventories that are necessary to ensure uninterrupted production runs.

    With respect to product quality:
    1 quality must be "traded off" against cost considerations.
    2 the best quality control systems rely on inspection points to ensure product quality.
    3 accountants do not need to be concerned with quality control reporting, as it is entirely nonfinancial in nature.
    4 quality output starts with correct product design.

    CAD is:
    1 a cost allocating decision.
    2 computer aided downtime.
    3 a computer-based engineering system.
    4 an organizational environment.

    Which of the following specific measures of vendor quality would be used when evaluating vendors that supply a company with direct materials?
    1 Defect-free material as a percentage of total materials received
    2 Number of customer complaints
    3 Time it takes to make a product
    4 All would be considered to assess vendor quality of direct materials

    The term given to the act of a company comparing its processes to similar processes in a successful company is called:
    1 process mapping.
    2 TQM.
    3 benchmarking.
    4 return on quality.

    The award given to companies that achieve distinctive results in implementing total quality control is the:
    1 ISO.
    2 Malcolm Baldrige Quality Award.
    3 Deming Application Prize.
    4 Kaizen Prize.

    A producing center is another term for a(n):
    1 service center.
    2 cost center.
    3 revenue center.
    4 activity center.

    A discretionary cost center is another term for a(n):
    1 service center.
    2 activity center.
    3 cost center.
    4 revenue center.

    The allocation base used to assign service center costs is called a:
    1 service base.
    2 cost driver.
    3 revenue driver.
    4 revenue base.

    An organization that does not require precise measurements of the use of services probably would allocate its service center costs by:
    1 using some form of the step method.
    2 applying the direct method.
    3 each revenue center's ability to absorb the cost.
    4 the actual usage of the service by the revenue centers.

    Which of the following is a problem inherent in charging revenue centers for usage of service centers?
    1 It is difficult to determine the amount that each revenue center should be charged for services.
    2 The usage among the revenue centers could vary widely.
    3 A particular revenue center may not use any of the support of a specific service center.
    4 The revenue centers could choose to use services from outside the company instead.

    Another name for the simultaneous equation method is the:
    1 reciprocal method.
    2 two-step method.
    3 step down method.
    4 indirect method.

    Which of the following methods allocates each service center's costs to all centers supported?
    1 Simultaneous equation method
    2 Step method
    3 Direct method
    4 None of the above

    Activity-based overhead rates differ from departmental overhead rates in that:
    1 they are not used to help determine the full cost of a product or service.
    2 they do not include any costs allocated from service centers in their calculation.
    3 there are more than one per department.
    4 they lessen a manager's ability to control costs.

    The cost allocation method that assigns joint costs to products based on their relative market value at the split-off point is the:
    1 simultaneous equation method.
    2 relative sales value method.
    3 net realizable value method.
    4 physical units method.

    Joint costs are:
    1 incurred prior to the separation of joint products.
    2 incurred after separation of joint products.
    3 incurred prior and after separation of joint products.
    4 None of the above

    Which of the following is an example of a by-product?
    1 Sawdust from a lumber mill used to make fireplace logs
    2 Broken cookies used in cookies-and-cream ice cream
    3 Pineapple skins from processing pineapple used for animal feed
    4 None of the above

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    Solution Summary

    The solution explains some multiple choice questions relating to costing methods, allocations, centers, ABC, joint, JIT, ERP and quality