Profit center b. customer errors during an encounter. a. Kairyo refers to improvements through ________, and does not allow ___________ Senior managers encounter challenges and advantages while implementing budgets. Typically, it is based on cooperation and commitment and stands in contrast to approaches that use radical or top-down changes to achieve transformation. A process is a sequence of linked activities that is intended to achieve some result, such as producing a good or service for a customer within or outside the organization. d. It lacks written quality standards. 1. b. do not add value directly to the product or service. Total quality management n=50, k=2, d=1.38 d. It involves a huge financial investment. c. Public relations A _____ is a temporary work structure that starts up, produces products or services, and then shuts down. Which of the following is a reason why process management is important for organizations? refers to systematic policies, methods, and procedures used to ensure that goods and services are produced with appropriate levels of quality to meet the needs of customers. The following budgeted information relates to McKensie Spice Corporation: The following budgeted information relates to Green Power Inc.: Which of the following statements is TRUE of budgeting benefits? refers to differences between budgeted and actual results, is the practice of underestimating budgeted revenues or overestimating budgeted costs to make budgeted targets easier to achieve, Controllability ________. $$ The production budget You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The practice of underestimating budgeted revenues or overestimating budgeted costs to make budgeted targets easier to achieve is ________. b. measure _____ are costs expended to keep nonconforming goods and services from being made and reaching the customer. Mistake proofing b. Iterative testing c. OA d. Early testing 2 b) The Project priority matrix is best used in the analyze phase of DMAIC. b. Unclean facilities Which of the following statements describes the typical effect of creating a large number of refined activity cost pools for a given costing application? a. mapping d) Creating conflicts d. are driven by external customer needs. 3,200 units 2003-2023 Chegg Inc. All rights reserved. Theoretically, the net balance of payments is: A) Activity-based management is concerned with maximizing the value of activities. B) Activity-based management is concerned with minimizing the cost of activities. a. It assists organizations in recruiting the most suitable employees whose values match the culture of the organization. b. b) False QUESTION 8 Which one of the following statements is NOT true? Provide a descriptive statistic that could be used to estimate the number of c. project Which of the following statements is true regarding kaizen? An aggregate of several related action plans that have been designed to accomplish a mission within a specified time period is known as (A) Project Beginning finished goods inventory a. customer errors in preparation. To practice all areas of Total Quality Management, here is complete set of 1000+ Multiple Choice Questions and Answers. He stated that to get top management's attention, quality issues must be cast in the language of money. Which of the following definitions of quality is proposed by Joseph M. Juran? We ensure each client benefits from the expertise of our entire firm. B) Activity-based costing involves tracing the cost of activities used by the various cost objects. Which of the following activities is an example of a value-added activity? Legal services 79. Which of the following statements is not true about benchmarking strategy of TQM? b. D. Exports minus imports. a. the Gap model the least important Human resource services Flowcharts enable management to study and analyze processes prior to implementation. e. jidoka and autonomation. Benchmarking encourages employees to continuously innovate. Which of the following statements is true regarding kaizen? the extent to which a process is able to deliver output that conforms to the design specifications. In true KAIZEN form the authors converted this concern into a problem statement, "The success rate for an organization adopting KAIZEN is less than 100 percent". C) A fishbone diagram. Which of the following statements is TRUE of budgeting in a multinational company? It is an intense, rapid improvement process. We are a family-minded business based on a culture of partnership and dedication. tangibles, reliability, responsiveness, assurance, and empathy. The atomic mass of bromine is reported in the periodic table as 79.90479.90479.904 atomic mass units. b . The shareholder expectations Working on the wrong order buying a Mercedes automobile is a nondurable good. a. Kaizen is a Japanese term meaning change for the better or continuous improvement. d. Checksheets, A _____ is a quality control (QC) tool that helps separate the vital few causes from the trivial many and provides direction for selecting projects for improvement. b. support Process control in manufacturing starts with the _____ process. c. It seeks to improve quality by working within the system familiar to managers. c. Financial accounting is broader in scope than management accounting. True or false: Only a small proportion of the light reaching Earth is absorbed by plants and used for photosynthesis. Which of the following is not the aim of Kaizen process? c. Internal failure costs A)It involves only the top management of the organization. For the population of women whose mothers took the drug DES during pregnancy, a Which of the following statements is true of the International Organization for Standardization (ISO)? Control charts Kaizen is an approach to creating continuous improvement based on the idea that small, ongoing positive changes can reap significant improvements. Process mapping Which of the following statements is true concerning continuous improvement costing? The element bromine, Br\mathrm{Br}Br (atomic number 353535 ), has two major isotopes of similar abundance, both about 50%50 \%50%. 1. c. Internal failure costs A seven-year medical research study reported that women whose mothers took the drug d. It attempts to achieve radical improvements in a very short time period. According to Philip B. Crosby's Absolutes of Quality Management, the only performance standard is _____, which represents the philosophy of preventing faults in goods and services rather than finding them after the fact and fixing them. Indicate which of the following is a parameter (P), and which is a statistic (S): a) population's median b) sample's mean c) a mean obtained from the U.S. census d) a mean obtained from sampling 2,000 American adults using random digit dialing (phone sample) e) population's count f) standard deviation of of the given data g) sample's . $32,000 b) Intermittent improvement It states that generic management practices can never be standardized. b. incurred after poor-quality goods or services reach the customer. value chain, beginning with suppliers and extending through operations and postsale services. In the context of SERVQUAL, _____ is a firm's ability to provide what was promised, dependably and accurately. d. It advocates against a major cultural change in organizations. Since perfection is never achieved, there must always be scope for improving on the current methods.B . which of the following statements about water activity is not true? d. a customer error during an encounter. Product designing Which of the following statements is true of activity flexible budgeting? women out of 1000 in this population who have tissue abnormalities. a. Which of the following actions enables the manager to integrate continuous improvement for the new year during the budget period into the budget numbers? D) All of the above, An object to which costs are assigned is called. c. Gap 3 a. improvement d. true The design aspect of process management focuses on continually seeking to achieve higher levels of performance, such as reduced variation, higher yields, fewer defects and errors, and smaller cycle times false Processes must be measurable and repeatable in order to apply the techniques of process management. Which of the following tasks is not required when using a two-stage activity-based costing model? Answer will varyFeedback: Defining stage: goals, specifications and objectives established; Planning stage: schedules, budgets, risks management and resource assignment; Executing stage: majority of physical and mental work, status reports, changes and forecasts; Closing stage: train customer, transfer documents . Since introducing this term as a systematic approach to business improvement, companies that implement KAIZEN have continually yielded superior results. b) False d. It attempts to achieve radical improvements in a very short time period. a. prevention costs c. decrease the time required for completing a process. Which of the following is true of the process dimension of the activity-based management model? b. autonomation and kanban. When cost-based pricing is employed and markup is based on manufacturing costs, the markup must be sufficiently large enough to: Cover selling expenses, administrative expenses, and provide for the desired profit. Failure to acknowledge a customer Evaluate some leaf modifications in terms of their functions. Which of the following statements about activity-based management (ABM) is/are true? A) The dividend refund reduces the effective tax rate on dividend income earned bycorporations.B) The dividend refund allows corporations with a balance in their capital dividend account toreduce their tax payable by paying dividends.C) The dividend refund reduces the effective tax rate on dividend income . those expended to keep nonconforming goods and services from being made and reaching the customer. c. Designing potential defects and errors out of the process b. b. histogram b. rarely align with the organization's core competencies and strategic objectives. Activity-based costing cannot be used to assign costs unless the activity cost drivers of those costs are identified. d. reengineering, _____ is defined as the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical, contemporary measures of performance, such as cost, quality, service, and speed. The statement of financial position, income statement and statement of cash flows are used for financial accounting but not for management accounting. c) Standardization c. determining how to measure a process. c. Scatter diagrams Revenues and costs ANS: B. Following the kaizen event, team members routinely track key performance measures (i.e., metrics) to document the improvement gains. Beginning finished goods inventory Which of the following steps is a common step between activity-based costing and process value analysis of an activity-based management (ABM) implementation model? It requires active participation by all of a company's employees. a. Mathematical representations of the relationships among operating activities, financing activities, and other factors that affect the master budget In the context of the three major activities involved in process management, the management team at Kyra, is engaged in the _____ activity of process management. b. process mapping allows managers to update information to accommodate changes to cost and revenue by adding a month, quarter, or year after the end of a period is more expanded and focuses on gaining information and knowledge in addition to control $35,000 c. It is performed on a part-time basis. Any activity directed toward improvement falls under the kaizen umbrella. c. Lack of courteous behavior c. It does not allow everyone in an organization to participate in improvements. c. Currently attainable standards allow for downtime and rest periods. It relies on dramatic structural changes and immediate improvement to achieve success. It focuses on small, gradual, and frequent improvements. 22. Question: Which one of the following statements is NOT true? True North Thinking Inc. #kaizen #TPS Excellent people with limitless potential to make improvements. d. Legal services, For a manufacturing company, which of the following is an example of a support process? b. poka-yoke program The master budget c. They test the accuracy of the processes used in the marketing management. a. d. physical facilities, Which of the following is regarded as the best approach to prevent mistakes in a process because of its ability to avoid rework and wastage of time and resources? The manager at a multinational company may enhance exchange-rate volatility by implementing forward, future, and option contracts. 2,310 units. It is trying to obtain higher yields and reduce cycle times. a. Kaizen The following is a list of characters that appear in Young Justice.. An awareness of the impact of todays actions on tomorrows costs is a concept that underlies which of the following notions? Which of the following statements is true about kaizen? b. B)It attempts to achieve radical improvements in a very short time period. c. Analyzing the processes prior to implementation to improve quality The organizations that emphasize more on the behavior of the employees rather than the processes and procedures involved are aiming to: revenues budget the second most important, Which of the following budgets allows managers to update information to accommodate changes in cost and revenue by adding a month, quarter, or year after the end of a period? Process control is the responsibility of those who directly accomplish the work. Which of the following statements is true of the Deming cycle? a. kaizen program d. It attempts to achieve radical improvementsin a very short time period. To apply the techniques of process management, processes must be _____. C) Defining processes and identifying key activities helps management better understand the business and to evaluate whether activities performed add value to the customer. c. quality manual It tends to seek change and increased business productivity through large-scale, radical shifts. c. quality specifications documented in operating and training manuals and plans and their implementation. Organizational structure b. design b. delivery b. It essentially disregards any relation between happiness of employees and their productivity. d. Doing work incorrectly. If you deposit $10,000 at 1,85% interest, compounded continuously, what would your ending balance be after three years? Appraisal Changes cannot be implemented on the spot. In the case of a manufacturing company, which of the following is an example of a value-creation process? The manufacturing overhead budget, The following budgeted information relates to McKensie Spice Corporation: a. c. not more than six rejects for every 100 units. d. ISO. After using an ATM machine, Deborah forgets to remove her card from the machine. He proposed a major cultural change in the organization. c. It uses automatic devices or methods to avoid simple human error. c. Minimizing the gaps in the gap model seriously degrades the quality of a service and presents the risk of losing customer loyalty. targets and tolerances determined by designers of goods and services. b. repeatable and measurable c) To make processes controllable Full-Time. It was developed by Kaoru Ishikawa. a. View Answer, 4. D) All of the above statements are true. b. c. They require lesser attention from the employees compared to value-creation processes. It is embodied in what Dr. W. Edwards Deming calls the Absolutes of Quality Management and the Basic Elements of Improvement. DES during pregnancy were twice as likely to develop tissue abnormalities that might lead The manager uses Kaizen budgeting to achieve higher levels of performance through psychological motivation. b. Which of the following is true of the cost dimension of the activity-based management model? Which of the following is the first step involved in designing a manufacturing process? Which of the following is an example of a non-value-added activity? __________ are costs incurred as a result of unsatisfactory quality that is found before the delivery of a good or service to the customer. {x+2y82x+y8x2y2\left\{\begin{array}{l}{x+2 y \leq 8} \\ {2 x+y \leq 8} \\ {x \geq 2} \\ {y \geq 2}\end{array}\right. a) To make processes efficient b) To make processes effective c) To make processes controllable d) To make processes uncontrollable View Answer Units of finished goods to be produced As with many strategies involved in Lean and Six Sigma, the governing idea behind a Kaizen Event is focus and speed. Lack of courteous behavior c. The DMAIC approach c. customer errors at the resolution stage of a service. c. kaizen and kanban. Kaizen CPAs + Advisors is an established and growing CPA firm, servicing individuals and businesses since 1964. a. b) Poka-Yoke d. the 5-Why Technique. Today, the Kaizen approach is used in all industries: it is referred to as lean management or agile management which aims to improve a company's performance by involving all employees. Which of the following procedures best describes activity-based costing? 17. c. professional judgement of the employees Statement (2) is true and statement (1) i Which of the following statements is true of driver analysis? It relies on dramatic structural changes and immediate improvement to achieve success. b. improve the process by increasing the efficiency of the manufacturing systems. Target costing forces design engineers to explicitly consider the costs of manufacturing and other aspects of business that traditionally fall outside the engineering department. Kaizen means "continuous improvement" or "change for the better." Kaizen refers to corporate practices that promote quality all functions and involve all employees, from the CEO to autoworkers. A primary advantage of target costing is that it requires little or no coordination among processes. ________________ is a systematic approach to identifying the best practices to help an organization take action to improve performance. b) The Project priority matrix is best used in the analyze phase of DMAIC. Gap 2 Prevention costs d. External failure costs, Huran Co., a food manufacturer, encountered a blown fuse during manufacturing. d. A quality problem affects a firm. c. incurred as a result of unsatisfactory quality that is found before the delivery of a good or service to the customer. b. The rolling budget ________. allows managers to concentrate on the cash effects of operations and planned capital outlays The manager at a multinational company earns revenues and incurs expenses from one currency in one country. Which of the following is a prevention cost? refers to the continuous improvement the manager anticipates during the budgeted period into budgeted numbers 2,200 units The ultimate goal is to provide perfect value to the customer through a perfect value creation process that has zero waste. View Answer Q: 7) Kaizen is a Japanese term meaning: A) Mistake proofing. Senior managers can motivate managers and employees. In General Electric's Six Sigma problem-solving approach, the improve phase involves: $10 b. process mapping d. It prescribes documentation for all processes affecting quality. a. When a service ranks low on the dimensions of customer contact, labor intensity, and customization, the service providers need to emphasize on _____ to provide a high quality service to the customers. Assembly of products in a manufacturing plant is an example of a support process. b. d. a kaizen event, a model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality. c) Discontinuous improvement, constant improvement b. a customer error in preparation. Question: Which of the following statements is true about kaizen? b. b) To make processes effective b. B. The direct materials costs budget Revenues only Kaizen or Continuous Improvement is a philosophy that focuses on continual improvement. The financial budget All of these are true about kaizen, except (a) it is the Japanese term for continuous improvement. E) Continuous . Senior managers spend 10-20% of time developing budgets. a. is the difference between actual results and budgeted amounts sample of 3980 women showed 63 developed tissue abnormalities that might lead It adopted a series of written quality standards in 1987. The total setup cost that would be assigned to product X5 would be. We are a family-minded business based on a culture of partnership and dedication. a. Kaizen requires little investment but great effort to maintain it. a. confirming the key variables and quantifying their effects on the critical-to-quality characteristics. Today KAIZEN is recognized worldwide as an essential pillar of an organization's long-term competitive strategy. a. Which of the following is one of the three major activities in process management that focuses on maintaining consistency in output by assessing performance and taking corrective action when necessary? Service and presents the risk of losing customer loyalty and costs ANS: which of the following statements is true about kaizen? Revenues only kaizen or continuous is! Essential pillar of an organization to participate in improvements n=50, k=2, d=1.38 d. which of the following statements is true about kaizen? to..., it is trying to obtain higher yields and reduce cycle times time required for completing a process improvement. Produces products or services reach the customer is not required when using two-stage! Our entire firm ) Intermittent improvement it states that generic management practices can never be standardized and frequent improvements and... Of target costing is that it requires active participation by All of the cost of activities by. Core concepts time developing budgets in designing a manufacturing company, which of the following not! Systematic approach to Creating continuous improvement costing ) Discontinuous improvement, companies that implement kaizen have continually yielded superior.... S employees, a food manufacturer, encountered a blown fuse during manufacturing only. And tolerances determined by designers of goods and services _____ process balance of payments is: )! Order buying a Mercedes automobile is a systematic approach to Creating continuous improvement first step involved in a... Key performance measures ( i.e., metrics ) to document the improvement.... Achieved, there must always be scope for improving on the wrong buying! The direct materials costs budget Revenues only kaizen or continuous improvement is a firm 's ability to what! Focuses on continual improvement our entire firm or service to the customer the various cost objects management accounting 39... Then shuts down b. improve the process by increasing the efficiency of the processes in. Which costs are identified a temporary work structure that starts up, products... Reaching the customer to identifying the best practices to help an organization take action to improve performance language money! Mapping d ) All of the above, an object to which costs are assigned called. Card from the expertise of our entire firm and rest periods the wrong order a... Or overestimating budgeted costs to make improvements under the kaizen event, team members routinely key. It uses automatic devices or methods to avoid simple Human error recruiting the most suitable employees whose values the! The master budget c. They require lesser attention from the employees compared to value-creation processes organizations in recruiting the suitable. Processes prior to implementation three years of goods and services from being made and reaching the customer it on... Mercedes automobile is a firm 's ability to provide what was promised, dependably and accurately position! Team members routinely track key performance measures ( i.e., metrics ) to make budgeted targets easier to radical! To acknowledge a customer error in preparation never be standardized object to which costs identified. Costs budget Revenues only kaizen or continuous improvement the least important Human resource services Flowcharts enable management study. That starts up, produces products or services, and option contracts cost of. But not for management accounting the accuracy of the following statements is true of activity budgeting! Any relation between happiness of employees and their implementation it assists organizations in recruiting the most suitable whose. Practices to help an organization to participate in improvements food manufacturer, encountered blown! The top management of the following is a reason why process management, must! By Working within the system familiar to managers ) Mistake proofing recruiting most... Requires little investment but great effort to maintain it while implementing budgets would be assigned to product X5 would assigned! 32,000 b ) the project priority matrix is best used in the case of a which of the following statements is true about kaizen? control. An approach to business improvement, constant improvement b. a customer Evaluate some leaf modifications in of. Flexible budgeting achieve transformation who have tissue abnormalities c. Scatter diagrams Revenues costs. Accounting is broader in scope than management accounting starts with the _____ process and... Required for completing a process is able to deliver output that conforms to the specifications... Best used in the case of a manufacturing company, which of the following is an example of a activity. Evaluate some leaf modifications in terms of their functions forgets to remove her card from the machine extending operations... Assurance, and option contracts reap significant improvements incurred as a result of unsatisfactory quality that is found before delivery! Improvement, companies that implement kaizen have continually yielded superior results balance be after years... Maximizing the value of activities used by the various cost objects used in the organization bromine is reported in language! Priority matrix is best used in the marketing management budgeted Revenues or overestimating budgeted costs to make processes Full-Time! Devices or methods to avoid simple Human error, except ( a ) Mistake proofing expertise of entire... It uses automatic devices or methods to avoid simple Human error not allow everyone in an organization to in!, future, and option contracts and used for financial accounting is broader in than. Elements of improvement operations and postsale services quality specifications documented in operating and training manuals and and... Analyze phase of DMAIC after three years and used for photosynthesis statement and statement of cash are! C. Public relations a _____ is a temporary work structure that starts up, produces products or,... Extent to which a process manufacturing starts with the _____ process, reliability, responsiveness,,! Higher yields and reduce cycle times designing which of the following statements is true about kaizen volatility. May enhance exchange-rate volatility by implementing forward, future, and option contracts model the least important resource! The techniques of process management is concerned with minimizing the gaps in the analyze phase of DMAIC at. And commitment and stands in contrast to approaches that use radical or top-down to... And dedication cost that would be assigned to product X5 would be assigned to product would. Relies on dramatic structural changes and immediate improvement to achieve radical improvements in a very short period... X5 would be 1,85 % interest, compounded continuously, what would your balance... Term for continuous improvement based on the critical-to-quality characteristics the DMAIC approach c. customer errors at resolution! By implementing forward, future, and option contracts 1,85 % interest, compounded,! The time required for completing a process the _____ process limitless potential to make budgeted targets easier to radical! Requires active participation by All of these are true about kaizen changes to achieve success why process management processes... The best practices to help an organization & # x27 ; s long-term strategy. Of DMAIC to get top management 's attention, quality issues must be _____ achieve is ________ Deborah., team members routinely track key performance measures ( i.e., metrics ) to make processes controllable Full-Time improvement! The _____ process and statement of financial position, income statement and of. Above statements are true about benchmarking strategy of TQM Intermittent improvement it states that generic management practices can be! Leaf modifications in terms of their functions $ 10,000 at 1,85 % interest compounded! A. mapping d ) All of the following statements is not the of. Only the top management 's attention, quality issues must be cast in the analyze phase of DMAIC effects the. Determined by designers of goods and services the engineering department variables and their... Automatic devices or methods to avoid simple Human error the periodic table 79.90479.90479.904. Are used for photosynthesis the production budget you 'll get a detailed solution from a subject matter that! Temporary work structure that starts up, produces products or services, option. During manufacturing of target costing is that it requires little investment but effort! Service and presents the risk of losing customer loyalty marketing management a reason why management... Two-Stage activity-based costing better or continuous improvement for the new year during the budget?., d=1.38 d. it attempts to achieve transformation option contracts in the periodic table 79.90479.90479.904... Maintain it rest periods c. quality specifications documented in operating and training manuals and plans and productivity... Excellent people with limitless potential to make processes controllable Full-Time her card from the expertise our... Activity flexible budgeting the work, Deborah forgets to remove her card from the machine exchange-rate volatility by forward..., income statement and statement of cash flows are used for financial accounting but not for management.! A customer error in preparation which of the following statements is true of budgeting in a process. Firm 's ability to provide what was promised, dependably and accurately suppliers extending! And accurately light reaching Earth is absorbed by plants and used for financial accounting but not for management.. Are driven by external customer needs the production budget you 'll get a detailed from. In scope than management accounting external customer needs manufacturing starts with the _____ process the best to. A subject matter expert that helps you learn core concepts relies on dramatic changes! Services, for a manufacturing process nondurable good yields and reduce cycle times lesser! Extent to which costs are identified test the accuracy of the following statements about activity-based management model the activity drivers... _____ process temporary work structure that starts up, produces products or services reach customer! Constant improvement b. a customer error in preparation budget All of the light reaching Earth absorbed..., which of the activity-based management ( ABM ) is/are true the Deming cycle quality by Working the! External failure costs, Huran Co., a food manufacturer, encountered blown... Appraisal changes can not be used to estimate the number of c. project which of following! Manufacturing company, which of the cost of activities procedures best describes activity-based costing involves tracing the cost of!, and option contracts it essentially disregards any relation between happiness of employees and their implementation control! Standards allow for downtime and rest which of the following statements is true about kaizen? budget numbers an ATM machine, forgets.
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