Describe the stages in the Deming Cycle
The Deming Cycle is composed of four stages: Plan, Do, Study, Act. Sometimes it
is called the PDSA cycle. The Plan stage consists of studying the current situation, gathering data, and planning for improvement. In the Do stage, the plan is implemented on a trial basis in a laboratory, pilot production process, or with a small group of customers. The Study stage is designed to determine whether the trial plan is working correctly and to see whether any further problems or opportunities can be found. The last stage, Act, is the implementation of the final plan to ensure that the improvements will be standardized and practiced continuously. This leads back to the Plan stage for further diagnosis and improvement.
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________ is the fraudulent conversion of property by a person to whom that property was entrusted.
A. Embezzlement B. Bribery C. Forgery D. Extortion
A direct cost is a cost that is:
A. Traceable to multiple cost objects. B. Identifiable as controllable. C. Traceable to the company as a whole. D. Traceable to a single cost object. E. Does not change with the volume of activity.
Crusoe Waterworks Corporation provides plumbing services. Transactions of Crusoe Waterworks during the first year of operations are given below
a) Received $4,000 cash and issued common stock to Robinson b) Paid $3,000 cash for equipment to be used for plumbing repairs. c) Borrowed $27,000 from a local bank and deposited the money in the checking account. d) Paid $900 rent for the year. e) Purchased $1,000 of office supplies on account. f) Completed a plumbing repair project for a local lawyer and received $3,200 cash. Calculate the amount of total stockholders' equity after recording the transactions. Assume office supplies of $1,000 are left at the end of the year. A) $6,300 B) $3,200 C) $4,000 D) $27,000
An employee of KyoTek was arrested last Saturday night for public fighting, destroying property, and harming several people. The employee has been released pending a trial, and wants to return to work. Other employees are nervous to be around this person after this display of violence, and that has created a disruptive atmosphere in the workplace. KyoTek does have the legal right to discipline the employee based on this off-duty behavior.
Answer the following statement true (T) or false (F)