A system that is used well with JIT as well as producing small batches of customized parts or products is:
a. materials requirements planning (MRP)
b. computer-aided design (CAD)
c. enterprise resource planning (ERP)
d. flexible manufacturing systems (FMS)
e. computer-aided engineering (CAE)
d. flexible manufacturing systems (FMS)
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Manufacturers are using all of the following methods to respond to inroads made by private labels, except:
A) focusing on a few core brands B) increasing advertising expenditures C) introducing new products and new versions of current products D) reducing prices to meet private label pricing
May an accountant plan and perform an engagement to compile or review the financial statements of a not-for-profit entity if the accountant is unfamiliar with the specialized industry accounting principles?
A. Neither a compilation nor a review could be performed without the specialized knowledge. B. Only a review could be performed without the specialized knowledge. C. Both a compilation and a review could be performed without the specialized knowledge. D. Only a compilation could be performed without the specialized knowledge.
Why should the client's legal expenses be examined?
a. To compare with previously released attorney's letters. b. To determine the types of fraud occurring in the organization. c. To ensure proper recording of vendor payables. d. To determine if there is any litigation pending or threatened.
Which of the following best describes the value chain of a company?
A) the collection of businesses and products that make up the company B) profits earned by the cash cows and stars in the company's business portfolio C) touchpoints at which a company or brand interacts with its consumers D) the series of departments that design, produce, market, deliver, and support the company's products E) a network made up of the company, its suppliers, and its distributors working together to deliver customer value