As performance excellence practices are used routinely within an organization, its people learn to believe in the underlying principles of total quality, and cultural changes can occur
a. True
b. False
Indicate whether the statement is true or false
True
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Testing a sample of repairs and maintenance items to ensure that they were properly classified as repairs as opposed to property, plant, and equipment tests which of the following assertions for the property, plant, and equipment account?
A. Cutoff. B. Authorization. C. Completeness. D. Occurrence.
Which of the following is calculated using the formula: Labor Savings +Warranty+ Price +Callbacks?
A) overall performance factor B) overall performance index C) perceived customer value D) customer value index E) life-cycle cost
Applied overhead exceeds actual overhead when the
a. Overhead account has a credit balance. b. journal entry to account for the difference involves a debit to Cost of Goods Sold. c. Overhead account has a debit balance. d. company has overspent in the overhead cost area.
Macy’s organization provides group health insurance to its employees. According to the ______, the organization must issue a “Summary Plan Description” that describes the insurance plan and how it works in plain language.
A. Consolidated Omnibus Budget Reconciliation Act of 1985 B. Health Insurance Portability and Accountability Act of 1996 C. Employee Retirement Income Security Act of 1974 D. Social Security