9. Which is not an aspect of a report to make it effective? a. Detailed b. Accuracy c. Relevance d. Exception oriented 10. Which of the following statements is true? a. world class companies motivate and treat employees like appreciating assets b. manufacturing firms that achieve world class status do so by following a philosophy of lean manufacturing c. world class companies must maintain strategic agility and be able to turn on a dime d. all of the above 11. Which of the following is not recorded using the fixed assets system? a. Sale of a company van b. Improvement of a leased office space c. Purchase of raw materials d. None of the above

9. Which is not an aspect of a report to make it effective? a. Detailed b. Accuracy c. Relevance d. Exception oriented 10. Which of the following statements is true? a. world class companies motivate and treat employees like appreciating assets b. manufacturing firms that achieve world class status do so by following a philosophy of lean manufacturing c. world class companies must maintain strategic agility and be able to turn on a dime d. all of the above 11. Which of the following is not recorded using the fixed assets system? a. Sale of a company van b. Improvement of a leased office space c. Purchase of raw materials d. None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Breaking down resistance to a new strategic vision typically requires that management, on an as needed basis, Select one: O A. reiterate the company's need for the new direction, while addressing employee concerns head- on, calming fears, lifting spirits, and providing them with updates and progress reports as events unfold. O B. raise wages and salaries to win the support of company personnel for the company's new direction. O C. institute a balance scorecard to measuring company performance, with the balance including a mixture of both old and new performance measures. O D. explain all updates and merits of the company's business model to align strategy with employee concerns. O E. inform company personnel about forthcoming changes in the company's strategy.
Which of the following is not a way an accounting system can generate motivation? 15 Multiple Cholce Ask The accounting system can provide Information to allocate revwards appropriately. The accounting system can help create and set goals through the bucgeting process. The accounting system can Introduce punitive measures for employees that do nột achleve goals. for example, limiting pay The accounting system can provide feedback and progress updates perlodicaly
1. What is not a business discipline? A. International studies B. Accounting C. Finance D. Human resources 2. Marketing activities include advertising, weather forecasting, customer service, and market research. A. True B. False 3. Product lifecycle is how long a product will last for an individual customer. A. True B. False 4. When does a business have a good chance to be successful? A. When the economy is in a state of inflation B. During a recession C. During a depression D. When the economy experiences growth
Describing the balanced scorecard and identifying key performance indicators for each perspective Consider the following key performance indicators, and classify each according to the balanced scorecard perspective it addresses. Choose from a financial perspective, customer perspective, internal business perspective, or learning and growth perspective. Number of employee suggestions implemented Revenue growth Number of on-time deliveries Percentage of salesforce with access to real-time inventory levels Customer satisfaction ratings Number of defects found during the manufacturing Number of warranty claims Return on investment Variable cost per unit Percentage of market share Number of hours of employee training Number of new products developed Yield rate (number of units produced per hour) Average repair time Employee satisfaction Number of repeat customers
17. The ultimate objective entering rapidly growing or emerging markets is to increase sales and profits. True False 19. IFRS for small and medium size entities is an independent standard that prescribes financial reporting guidance for big sized entities. True False 20. bring convergence of national accounting standards, and International Accounting Standards and International Financial Reporting Standards to high-quality solutions is one of the objectives of IASB. True False 21. it might be less expensive to locate production close to the source of supply rather than to import the materials. True False 22. Functional currency is the secondary currency in which the reporting entity transacts business and generates and spends cash. True False
Which of the following describes the best way to build/create a balanced scorecard? O a. Step 1. Create a strategy map that captures the company's strategy and shows the cause-and-effect relationships (links) between different parts of the strategy. Step 2. Define performance measures in each of the 4 perspectie or categories of the Balanced Scorecard based on the strategy map O a. Step 1. Examine best practices for "Key Performance Indicators' used by Fortune 500 companies. Step 2. Use all of the measures which are used in the "best practice" examples. O a Step 1. List all possible performance measures that the compaury could cse Step 2. Put each measure into ane of the 4 perspectives" or categories of the Balanced Scorecard.
5. Which of the following key decisions is a financial manager likely to make? A. Manage the promotion and positioning of a brand or product B. How much finance should be raised C. Plan and coordinate an organization's workforce D. What production method to use for a new product
Balanced scorecards use both financial and nonfinancial measures to evaluate employees. The four categories of a balanced scorecard are financial perspective, internal business perspective, customer perspective, and learning and growth perspective. Are the above statements True / False? If the above statements are true then what are: the financial perspective the internal business perspective the customer perspective the learning and growth perspective
EB1. LO 12.4 Classify each of the following performance measures into the balanced scorecard perspective to which it relates: financial perspective, internal operations perspective, learning and growth perspective, or customer perspective. A. Employee satisfaction surveys B. Units of waste per production process, uniformity of products and inventory control C. Number of energy-efficient bulbs replaced D. Management training course certificates awarded E. Divisional profit F. Number of customer referrals
1. A. Accounting cost theory B. Diffusion theory C. Transaction cost theory D. Agency theory 2. The theory concerning the cost of managing and supervising a firm is called is when firms seek to economize on transaction costs. A. Accounting cost theory B. Diffusion theory C. Transaction cost theory D. Agency theory 3. The most common reason for failure of large projects is due to A. Organizational and political resistance B. Uncertainty C. Inability to acquire resources D. Culture and routine 4. Which of the following is NOT one of Porter's competitive forces A. Customers B. Suppliers C. New market entrants D. Interest rates 5. Which of the following is NOT a strategy for dealing with Porter's competitive forces? A. Traditional competitors B. Low cost leadership C. Focus on market niche D. Product differentiation
A) What is the concept of “competitive benchmarking? A technique for directly comparing technology and cost-effectiveness of products. A measure of market share in terms of volume sales. A method for assessing a company’s total service quality based on customer perceptions. A strategy to measure the financial strength of competitors in the market.
Choose whether the following characteristics are most often associated with managerial accounting or financial accounting. Managerial Accounting Financial Accounting Primarily used for internal decision making Generally Accepted Accounting Principles (GAAP) must be used Prepared statements usually pertain to the company as a whole rather than individual departments or products Information provided will often be subjective, such as estimated future results Often prepared on an as-needed basis rather than at fixed intervals Use principles of the Sustainability Accounting Standards Board (SASB) to provide sustainability, information to external financial statement users Consideration of sustainability practices to contribute to the company's long-term success Using eco-efficiency measures to reduce expenses OOOO