Define a value stream map. How does this differ from a regular process map?
Value stream refers to all value-added activities involved in designing, producing, and delivering goods and services to customers. A value stream map shows the process flows in a manner similar to an ordinary process map. The difference, however, is that value stream maps highlight value-added versus non-value-added activities, and include costs associated with work activities for both value- and non-value-added activities.
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As owner and senior accountant at a tax preparation firm, Mark is changing the work schedule of all employees, including managers and accountants, for the months of March and April, the company's busiest time. He is requiring everyone to work on weekends, just as he has during the tax-preparation season for the last ten years. Mark should expect that his employees will be
A. terribly upset and will quit. B. moderately upset but not willing to quit. C. moderately upset and complain. D. hardly upset or not upset at all. E. terribly upset but not quit.
Which of the following best describes a company's financing activities?
a. Financing activities focus on the sale of products and services. b. Financing activities include selling products. c. Financing activities enable a company to acquire assets needed to run a business. d. Financing activities are represented by the revenues and expenses on the income statement.
The key lesson behind Chapter 12's "FYI: Are Ya Havin' a Laugh?" feature is that ________
A) at times, a sense of humor is the best approach B) the media should not make fun of the president C) press secretaries can be fired for their use of improper humor D) social media is a risky choice when it comes to humor
In an A-B-C classification system, the B-class of products represent 30 percent of costs and 50 percent of products
Answer the following statement(s) true (T) or false (F)