36.
During 2016, the Beach Restaurant had sales revenues and food costs of $800,000 and
$600,000, respectively. During 2017, Beach plans to introduce a new menu item that is
expected to increase sales revenues by $100,000 and food costs by $40,000. Assuming no
changes are expected for the other food items, operating profits for 2017 are expected to
increase by
37.
(CMA adapted) The process of creating a financial plan of the revenues and resources
needed to carry out activities and meet financial goals is referred to as:
38.
The field of accounting that reports according to generally accepted accounting principles
(GAAP) is called:
39.
The field of accounting that focuses on the criterion of relevant information rather than
comparability of firms is:
40.
The just-in-time (JIT) method of production focuses on
41.
(CIA adapted) The primary reason for adopting total quality management (TQM) is to
achieve
42.
43.
44.
45.
46.
A general term for a metric that indicates how well an individual, business, product, or firm
is working is called
47.
The cost accounting system that minimizes wasteful or unnecessary transaction
processes is
48.
Continual process of measuring a company’s own products, services or activities against
competitors’ performance is
49.
The costing method that first assigns costs to activities and then assigns them to products
based on the products’ consumption of activities is called
50.
Having one or more of the firms’ activities performed by another firm or individual in the
supply or distribution chain is called
51.
52.
Systems that allow firms to target profitable customers by assessing customer revenue
and costs are called
53.
Information technology that links the various processes of the company into a single
comprehensive information system is called
54.
55.
Which of the following is not a key financial manager in an organization?
56.
Which of the following is not normally considered part of the value chain?
57.
58.
In 2016, the Merkel Company had revenues of $2,000,000 and costs of $1,500,000. During
2017, Merkel will be introducing a new product line that is expected to increase sales
revenue by $200,000 and costs by $160,000. Assuming no changes are expected for the
other products, the operating profits are expected to increase by
59.
Moving of inventory is an example of a(n):
60.
Costs that differ among or between two or more alternative courses of action are
61.
Which of the following activities would not be included in the value chain of a
manufacturing company?
62.
A firm’s replies to customers’ questions via email would be an example of which element
of the value chain?
63.
The delivery of products or services to customers is an example of which element in the
value chain?
64.
65.
Advertising costs would be associated with which of the following value chain
components?