Quiz 1

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1. The controller occupies a staff position in an organization. Student Response Value Correct Answer
True 100% True
Score: 1/1

2. A strategy is a game plan that enables a company to attract customers by mimicking what successful competitors do. Student Response Value Correct Answer
False 100% False
Score: 1/1

3. Customer value propositions tend to fall into three broad categories-theory of constraints, six sigma, and enterprise risk management. Student Response Value Correct Answer
False 100% False
Score: 1/1

4. Companies that choose an operational excellence strategy are in essence saying to their customers, “Choose us because we can deliver products and services faster, more conveniently, and at a lower price than our competitors.” Student Response Value Correct Answer

True 100% True
Score: 1/1

5. A value chain consists of the major subassemblies that add value to a product. Student Response Value Correct Answer
False 100% False
Score: 1/1

6. Efforts designed to increase the rate of output should generally by applied to non-constraint work stations. Student Response Value Correct Answer
False 100% False
Score: 1/1

7. The lean thinking model focuses on reducing defects to as close to zero as possible. Student Response Value Correct Answer
False 100% False
Score: 1/1

8. Six Sigma is a process improvement method that targets a system’s constraint for process improvement. Student Response Value Correct Answer
False 100% False
Score: 1/1

9. The Sarbanes-Oxley Act to 2002 was intended to protect the interests of those who invest in publicly traded companies by ensuring that their original investments could be recovered in case of fraud. Student Response Value Correct Answer

False 100% False
Score: 1/1

10. Enterprise risk management involves replacing risky investments with investment in low-risk government securities. Student Response Value Correct Answer
False 100% False
Score: 1/1

11. Which of the following persons would occupy a line position in a department store?

I. Sales manager
II. Manager, furniture department
III. Manager, advertising department
IV. Manager, personnel department
Student Response Value Correct Answer Feedback
A. Only I
Student Response B. Only I and II 100% Student Response C. Only I, II, III
D. I, II, III, IV
Score: 1/1

12. The controller occupies:
Student Response Value Correct Answer Feedback
A. a line position.
Student Response B. a staff position. 100% Student Response C. neither a line nor a staff position, since the accounting department must be independent. D. both a line and a staff position.

Score: 1/1

13. Decentralization refers to:
Student Response Value Correct Answer Feedback
A. reporting for the company as a whole.
B. focusing reporting on parts of the company.
Student Response C. the delegation of decision-making authority throughout an organization. 100% Student Response D. differences in organizations.
Score: 1/1

14. ________ is an example of a staff position.
Student Response Value Correct Answer Feedback
A. Sales manager for a manufacturer
B. President of a merchandising company
C. Store manager for Best Buy
Student Response D. Human resource manager for a community college 100% Student Response Score: 1/1

15. Which of the following is NOT one of the three major customer value propositions discussed in the text? Student Response Value Correct Answer Feedback
A. Customer intimacy
B. Operational excellence
Student Response C. Zero defects 100% Student Response D. Product leadership
Score: 1/1

16. Which of the following is NOT one of the five steps in the lean thinking model discussed in the text? Student Response Value Correct...
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