Answer the following statement(s) true (T) or false (F)
1. A firm’s processes are largely static and remain unchanged over time.
2. Fast-food restaurants rely on identical processes to ensure proper delivery of food to their customers.
3. A key part of process flowchart design is the consideration of where value is or is not being created in the process.
4. Process flowcharting is typically not used in service operations.
1. False
2. False
3. True
4. False
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The bankruptcy trustee is appointed to represent the interests of creditors in a bankruptcy proceeding.
Answer the following statement true (T) or false (F)
Which of the following would be a justification for involuntary dissolution of a corporation by a creditor?
A. When there is misapplication or waste of corporate assets B. When directors are acting illegally or unfairly C. When directors are in conflict, deadlock cannot be broken by shareholders, and the corporation faces ruin D. When corporation is insolvent and not paying its debts
A desktop search tool is a search engine designed to search for files on your computer or file server that contain specific words or that were produced within a specific time period
Indicate whether the statement is true or false.
Evaluated Receipts Settlement is ________
A) a streamlined process that bypasses paper documents altogether B) a process that eliminates the need for separation of duties C) a procedure that compresses the payment approval process into a single step by comparing the receiving report to the purchase order D) an organizational plan and all the related measures adopted by an entity to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and reliable accounting records