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GB 519 Unit 1 Quiz
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GB 519 Unit 1 Quiz

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UNIT 1 QUIZ

1. Question : Corporate management is required to identify and solve problems

from a cross-functional view. Instead of viewing a problem as

related to a specific business function, management solves these

problems by combining skills from different functions

simultaneously. This approach is called:

Student Answer:

Inclusive approach.

Integrative approach.

Intra-function approach.

Multilateral approach.

 

Question 2. Question : When managers produce value for the customer, their orientation

consists of all the following except:

Student Answer:

Quality and Service.

Timeliness of delivery.

The ability to respond to the customer's desire for specific

features.

State of the art manufacturing facilities.

 

Question 3. Question : Non-financial measures of operations include all the following

except:

Student Answer:

Stock price.

Product quality.

Customer satisfaction.

Market share.

 

 

Question 4. Question : The competitive strategy in which the firm succeeds by

developing and maintaining a unique value for the product, as

perceived by the customer, is termed:

Student Answer:

Differentiation.

Specialization advantage.

Design strategy.

Benchmarking.

Product Specialization.

 

Question 5. Question : The differentiation strategy requires all of the following resources,

except:

Student Answer:

Strong marketing capability.

Long tradition in the industry or unique skills.

Product engineering.

Products designed for ease of manufacture.

 

Question 6. Question : The main objective of value chain analysis is to identify stages of

the value chain where the firm can:

Student Answer:

Justify increases in the price of the product or service.

Increase value to the customer or reduce cost in some way.

Outsource production to other producers.

Improve efficiency

UNIT 1 QUIZ

Question 7. Question : SWOT analysis, a valuable analysis tool, stands for:

Student Answer:

Strengths - Workability - Opportunities - Threats.

Strategies - Weaknesses - Opportunities - Threats.

Strengths - Weaknesses - Observations - Threats.

Strengths - Weaknesses - Opportunities - Threats.

 

 

Question 8. Question : Which of the following is not an environmental performance

indicator?

Student Answer:

Fossil fuel use.

Carbon emissions.

Pollutants production.

All of the above.

 

 

Question 9. Question : The main objective(s) of internal accounting controls is/are:

Student Answer:

To increase customer satisfaction.

To increase revenue.

To prevent or detect errors and fraudulent acts.

To facilitate new product lines.

 

 

UNIT 1 QUIZ

Question 10. Question : Prime cost and conversion cost share what common element of

total cost?

Student Answer:

Direct labor.

Direct materials.

Variable overhead.

Fixed overhead.

 

 

Question 11. Question : Which of the following should be considered a structural cost

driver?

Student Answer:

Scale.

Experience.

Complexity.

Technology.

All of the above.

 

 

Question 12. Question : The additional cost incurred as the cost driver increases by one

unit is:

Student Answer:

Average cost.

Controllable cost.

Variable cost.

Unit cost.

UNIT 1 QUIZ

Question 13. Question : Assume the following information pertaining to a Company:

Prime costs = $195,000

Conversion Costs = $221,000

Direct Materials used = $85,000

Beginning Work-in-Process = $98,000

Ending Work-in-Process = $81,000

Cost of goods manufactured is calculated to be:

Student Answer:

$289,000.

$348,000.

$314,000.

$297,000.

$323,000.

 

 

Question 14. Question : Factory overhead costs for a given period were 2 times as much as

the direct material costs. Prime costs totaled $8,000. Conversion

costs totaled $11,350. What are the direct labor costs for the

period?

Student Answer: $4,650.

$3,560.

$4,200.

$3,860.

 

UNIT 1 QUIZ

 

Question 15. Question : Assume the following information pertaining to a Company:

Prime costs = $195,000

Conversion Costs = $221,000

Direct Materials used = $85,000

Beginning Work-in-Process=$98,000

Ending Work-in-Process = $81,000

Factory overhead is calculated to be:

Student Answer:

$306,000.

$26,000.

$110,000.

$84,000.

$111,000.

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