Answer the following statements true (T) or false (F)
1. A set of interrelated parts that operate together to achieve a common purpose is called a system.
2. For a jewelry designer, gold and silver rings, earrings, and bracelets are considered system inputs.
3. Feedback is one of the four parts of a system.
4. Sales data would be considered feedback in a system.
1. TRUE
A system is a set of interrelated parts that operate together to achieve a common purpose.
2. FALSE
For a jewelry designer, gold and silver rings, earrings, and bracelets are considered system outputs, which are the products produced by the organization.
3. TRUE
The four parts of a system are inputs, outputs, transformational processes, and feedback.
4. TRUE
Feedback is information about the reaction of the environment to the outputs that affects the inputs. Are the customers buying or not buying the product? That information is feedback.
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Availability of a system refers to the ______.
A. percentage of the time that a system is operating properly when it is needed for use B. percentage of the time that a system is down for maintenance C. percentage of components in the system that have a backup component D. percentage of the time that a system is available for use by the department that owns it (and is not being used by other departments)
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a. Perpetual b. Lower-of-cost-or-market c. Specific identification d. Periodic
Process value analysis (PVA) identifies all activities of a production and/or assembly operation for the purpose of
a. preparing budgets based on activity centers. b. determining the value of the process. c. replacing cost drivers used in cost assignment analyses with activities. d. relating cost assignment to the activities that caused the cost to be incurred.