An important guideline to follow in a lessons-learned meeting is to:
A) Make sure to properly assign blame for all that went wrong.
B) Make sure that events receive necessary spin.
C) Fix the problems.
D) Include all stakeholders.
C
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The level of production that provides complete utilization of all facilities and personnel, but allows for some idle capacity due to operating interruptions such as machinery breakdowns, idle time and other inescapable inefficiencies is:
a. practical capacity. b. theoretical capacity. c. budgeted capacity. d. normal capacity.
To determine the balance of a particular account, one should refer to the
a. source documents. b. chart of accounts. c. book of original entry. d. ledger.
Building high-morale organizations and building communication networks that include employees are both elements of:
A) ISO 9000 certification. B) Six Sigma certification. C) employee empowerment. D) Taguchi methods. E) the tools of TQM.
Clark and David are partners. Clark has contributed $25,000. David has contributed only his time and skill. On dissolution, after all firm debts are paid, $20,000 in assets remains. Which of the following is NOT correct?
A) The $20,000 remaining after payment is profit that will be equally divided. B) The partnership has sustained a loss of $5,000. C) David is not entitled to any part of the $20,000. D) David has no obligation to reimburse Clark for any loss.