Walter Shewhart is listed among the important people of operations management because of his contributions to:
A) assembly line production.
B) measuring productivity in the service sector.
C) just-in-time inventory methods.
D) statistical quality control.
E) information technology.
D
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A salesperson who provides a client with money-saving products and problem-solving ideas is serving the role of:
A. acquaintance. B. adversary. C. adviser. D. negotiator. E. friend.
If an auditor makes a disclaimer of opinion, this means that the auditor is ________
A) favorable to the company's financial statement matching its performance but notes a few departures from Generally Accepted Accounting Principles (GAAPs) B) unfavorable about the financial statement representing the company's position C) unable to draw a conclusion about the accuracy of the company's financial records owing to lack of information D) favorable of the company's financial statements representing its performance
If Grayson Manufacturing incurred $17,400 for direct labor in the assembly department and $10,300 for direct labor in the painting department, the journal entry to record the labor used is: Work in Process Inventory, Assembly$17,400 Work in Process Inventory, Painting$10,300 Raw Materials Inventory $27,700
Answer the following statement true (T) or false (F)
Which of the following statements best describes the post-audit function in the capital budgeting process?
A. The post-audit should be performed before a purchase decision is made for a new capital budgeting project. B. The post-audit is a fairly simple process, primarily because it is easy to separate the operating results of one project from those of other related projects. C. The post-audit involves comparing the actual results of previous capital budgeting decisions with the forecasted results to identify and explain any differences. D. The results of a post-audit generally can be used to develop future cash flow forecasts for new capital budgeting projects that are 100 percent accurate. E. Because it is quite expensive to perform, the post-audit should always be considered a voluntary part of the capital budgeting process.