Lean systems try to:
A) produce a product in anticipation of demand.
B) maximize the value added by each of its activities.
C) organize production in large lots to minimize the number of setups.
D) reduce the labor content in all processes.
B
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An important feature associated with the traditional approach to data management is the ability to produce ad hoc reports
Indicate whether the statement is true or false
Which of the following is not true?
a. Acquisition cost for a merchandising firm includes the costs incurred to purchase and transport the inventory prior to sale. b. Acquisition cost for a manufacturing firm includes the direct material, direct labor, and manufacturing overhead cost to produce the inventory. c. If the market values of inventory items decline below acquisition cost prior to sale, firms must reduce their balance sheet carrying values using the lower of cost or market method. d. If the market values of inventories increase during a period, IFRS permits firms to recognize the unrealized gain to the extent that the firm had previously recognized an unrealized loss on those inventory items. e. If the market values of inventories increase during a period, U.S. GAAP permits firms to recognize the unrealized gain to the extent that the firm had previously recognized an unrealized loss on those inventory items.
The two major developed African economies are
A. Nigeria and Kenya. B. South Africa and Kenya. C. South Africa and the Central African Republic. D. South Africa and Nigeria.
Which of the following is an incorrect statement about directors?
A) Their eligibility requirements may be found in the bylaws. B) Bylaws may require that directors be shareholders in the corporation. C) The board of directors has authority to manage the corporation. D) Courts will interfere with the board's discretion when they disagree with its actions.