Exam (elaborations)
AC642 Test1 Review Questions And Answers Latest Update
- Course
- AC642
- Institution
- Boston University
AC642 Test1 Review Questions And Answers Latest Update
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Solution 2024/2025Pepper
AC642 Test1 Review Questions And Answers
Latest Update
cost accounting information system
is a cost management subsystem designed to assign costs to individual
products and services and other objects as specified by management.
operational control information system
is a cost management subsystem designed to provide accurate and timely
feedback concerning the performance of managers and others relative to
their planning and control of activities. Increases customer value. Focuses
on identifying opportunities for improvement
Which of the following statements regarding the financial accounting
information system is true?
It is primarily concerned with producing outputs such as the balance sheet
and income statement for external users.
Financial Accounting Information System:
well specified economic events processes- rules and conventions est. by
SEC and FASB outputs- financial statements for external users
Legal disputes can be settled/forensic accounting
identifying, recording, settling, extracting, reporting, and verifying past
financial data in an activity known
lean manufacturing
The persistent pursuit and elimination of waste in manufacturing that
simultaneously embodies respect for people is called
total quality management
, Solution 2024/2025
Pepper
If a manager strives to create a work environment in which her organization
will be able to produce defect-free products and services, she is working
under the philosophy
Just-in-time manufacturing approach
Which of the following manufacturing approaches strives to produce a
product only when it is needed and only in the quantities demanded by
customers?
Theory of Constraints
Recognizing that all resources are finite
Theory of Constraints use
used to continuously improve manf. And non-manf activities
line positions
Positions that have direct responsibility for the basic objectives of an
organization are referred
example of a line position in a manufacturing company
Factory manager
treasurer of a company
responsible for the finance function, including raising capital
The controller of a company
responsibility for both internal and external accounting requirements,
including internal audit, budgeting support, economic analysis, taxes, and
so on
staff positions
Positions that are supportive in nature and have only indirect responsibility
for an organization's basic objectives are called
Chief accounting officer is an example
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