A business manufactures top-of-the-line cabinets. The _____ dimension of its general environment includes computer-assisted design software that helps to convert wood and people's idea into lovely, functional cabinets.
A. legal
B. sociocultural
C. technological
D. political
E. economic
Answer: C
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Which of the following is (are) a key feature of target costing?
A. A focus on product design. B. The use of cross-functional teams. C. A focus on the customer. D. A focus on process design. E. All of the answers are correct.
Use the following to calculate the acid-test ratio. (Round your answer to two decimal places.)
]
A) 0.74
B) 6.67
C) 0.87
D) 0.47
How does pull-through production help minimize inventories in a just-in-time operating environment?
a. Products are made in anticipation of customer demand. b. Products are made only when customer orders are received. c. Products are made in large production runs. d. Products are made identically.
Assume that a car owner contracts with a mechanic to have his engine overhauled
The mechanic mistakenly used original equipment quality piston rings in doing the overhaul, whereas the contract had called for the use of premium quality rings that are better than original equipment quality. Which of the following is true? A) This is a substantial performance, and the owner must still pay something to the mechanic. B) This is a substantial performance, and the owner owes nothing to the mechanic. C) This is a material breach, and the owner must still pay something to the mechanic. D) This is a material breach, and the owner owes nothing to the mechanic.