ACCY 307 Chapter Notes - Chapter 15: Target Costing, Supply Chain, Value Chain
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Question 1
Identify the item below that is not one of the four different types of data processing activities.
deleting | ||
reading | ||
creating | ||
using |
Question 2
All of the following are advantages of an ERP system except
ERPs permit manufacturing plants to receive new orders in real time. | ||
in an ERP, data input is captured or keyed once. | ||
it takes considerable experience and training to use an ERP system effectively. | ||
ERPs permit management to gain greater visibility into every area of the enterprise. |
Question 3
Sam Jones has been the controller of Downtown Tires for 25 years. Ownership of the firm recently changed hands and the new owners are conducting an audit of the financial records. The audit has been unable to reproduce financial reports that were prepared by Sam. While there is no evidence of wrongdoing, the auditors are concerned that the discrepancies might contribute to poor decisions. Which of the following characteristics of useful information is absent in the situation described above?
relevant | ||
reliable | ||
complete | ||
timely | ||
understandable | ||
verifiable | ||
accessible |
Question 4
An ERP system might facilitate the purchase of direct materials by all of the following except
preparing a purchase order when inventory falls to reorder point. | ||
routing a purchase order to a purchasing agent for approval. | ||
communicating a purchase order to a supplier. | ||
selecting the best supplier by comparing bids. |
Question 5
Antia Carmie is the largest collector and retailer of Japanese fans in the St. Louis area. Antia uses computer technology to provide superior customer service. The store's database system was designed to make detailed information about each Japanese fan easily accessible to her customers. Accordingly, the fan price and condition are provided for each fan, along with many pictures of each fan. In Antia's database, the price of the Japanese fans is a(n)
entity. | ||
attribute. | ||
field. | ||
record. |
Question 6
Which of the following is not considered a source document?
A copy of the company's shipping document. | ||
A copy of the company's ledger. | ||
A copy of the company's sales journal. | ||
A copy of the company's financial statements. |
Question 7
In an ERP system, the module used to record data about transactions in the disbursement cycle is called
financial. | ||
order to cash. | ||
customer relationship management. | ||
purchase to pay. |
Question 8
Baggins Incorporated identifies new product development and product improvement as the top corporate goals. An employee developed an innovation that will correct a shortcoming in one of the company's products. Although Baggins current Return on Investment (ROI) is 12%, the product innovation is expected to generate ROI of only 10%. As a result, awarding bonuses to employees based on ROI resulted in
goal conflict. | ||
information overload. | ||
decreased value of information. | ||
goal congruence. |
Question 9
________ are examples of activities that constitute inbound logistics.
Activities that transform inputs into final products or services | ||
Activities that provide post-sale support to customers | ||
Activities that consist of receiving, storing, and distributing the materials used as inputs by the organization to create goods and/or services it sells | ||
Activities that help customers to buy the organization's products or services |
Question 10
In which transaction cycle would information for inventory purchases be most likely to pass between internal and external accounting information systems?
the revenue cycle | ||
the expenditure cycle | ||
the human resources / payroll cycle | ||
the financing cycle |
Question 11
The collection of customer payment is part of which transaction cycle?
the human resources cycle | ||
the production cycle | ||
the revenue cycle | ||
the expenditure cycle |
Question 12
Which of the following is an example of source data automation?
POS (point-of-sale) scanners in retail stores | ||
a bill of lading | ||
a subsidiary ledger | ||
a utility bill |
Question 13
All of the following are guidelines for developing a good coding system except
be as sophisticated as possible to promote usage. | ||
be consistent with its intended use. | ||
be flexible to allow for growth. | ||
be consistent with the company's organization structure. |
Question 14
What is a key decision that needs to be made with regards to borrowing money from lenders?
the location | ||
pro forma income statement | ||
how much capital to acquire | ||
job descriptions |
Question 15
Identify the false statement below.
A service company does not have an inventory system. | ||
Retail stores do not have a production cycle. | ||
Financial institutions have installment-loan cycles. | ||
Every organization should implement every transaction cycle module. |
Question 16
The chart of accounts of a fast-food restaurant would probably include
a list of customers. | ||
a list of financial statement accounts. | ||
a list of vendors. | ||
a list of employees. |
Question 17
Which statement below regarding the AIS is false?
Traditionally, most AIS have been designed so that both financial and operational data are stored in a manner that facilitates their integration in reports. | ||
The AIS must be able to provide managers with detailed and operational information about the organization's performance. | ||
Both traditional financial measures and operational data are required for proper and complete evaluation of performance. | ||
The AIS was often just one of the information systems used by an organization to collect and process financial and nonfinancial data. |
Question 18
In Petaluma, California, electric power is provided to consumers by Pacific Power. Each month Pacific Power mails bills to 186,000 households and then processes payments as they are received. What is the best way for this business to ensure that payment data entry is efficient and accurate?
well-designed paper forms | ||
turnaround documents | ||
source data automation | ||
sequentially numbered bills |
Question 19
Data must be converted into information to be considered useful and meaningful for decision making. There are seven characteristics that make information both useful and meaningful. If the same information can be reproduced by two independent and knowledgeable people, it is representative of the characteristic of
verifiability. | ||
truthful. | ||
relevance. | ||
reliability. |
Question 20
Antia Carmie is the largest collector and retailer of Japanese fans in the St. Louis area. Antia uses computer technology to provide superior customer service. The store's database system was designed to make detailed information about each Japanese fan easily accessible to her customers. Accordingly, the fan price and condition are provided for each fan, along with many pictures of each fan. In Antia's database, the data about each Japanese fan represents a(n)
entity. | ||
attribute. | ||
field. | ||
record. |
Budget constraints on marketing research are most likely to leadto:
a wrong interpretation of the research results. | ||
an incorrectly formulated sample size and design. | ||
incorrect reasons regarding why the research is needed. | ||
pretest measurements of competitive brand sales. |
2 points
QUESTION 2
Stacy, a marketing manager at a beverage manufacturing firm,conducts a customer survey to determine the reason for a dip in thesales of Zeal, a cola, in the last quarter. The survey reveals thatthere is an immediate customer demand requiring the use of organicingredients to Zeal. The firm decides to enhance Zeal with theintroduction of organic ingredients. This new product would fallinto the category of ________.
new-to-the-world products | ||
new-to-the-firm products | ||
improvements and revisions of existing products | ||
additions to existing product lines |
2 points
QUESTION 3
Lauren is a brand manager at a company that manufacturestoothpaste. She wants to increase the sales of an existing brand oftoothpaste. To do so, she calls for a meeting with a teamcomprising of members from the administrative department, the humanresource department, and the finance department. All of thesemembers work together to come up with ways to improve the company'stoothpaste brand positioning. Such a team is an example of a________.
category-management system | ||
cross-functional team | ||
departmental team | ||
marketing-management system |
2 points
QUESTION 4
________ are methods used to determine how resources should beallocated among the various strategic business units (SBUs) in anorganization.
Vector models | ||
Matrix models | ||
Variable models | ||
Portfolio models |
2 points
QUESTION 5
For high-involvement products that require extensive decisionmaking, marketers should provide consumers with:
ready availability of the products in a variety of outlets andat competitive prices. | ||
factual information that highlights the competitive advantage ofthe products. | ||
minimum information to encourage a quick purchasing process. | ||
eye-catching advertisements and in-store displays to encouragethem to make a purchase. |
2 points
QUESTION 6
The number of times, on average, that audience members areexposed to an advertisement within a given time period is knownas:
frame rate. | ||
time to target market. | ||
reach intensity. | ||
average frequency. |
2 points
QUESTION 7
Ariston Inc. manufactures a wide range of personal careproducts. Its method of sales forecasting involves conductingdetailed surveys of retailers who stock the company's productstoward the end of a fiscal year. The aim of this survey is toestimate the quantity of Ariston's products the retailers arelikely to order in the next fiscal year. Which of the followingapproaches of sales forecasting is Ariston using?
Customer expectations method | ||
Time-series analysis | ||
Sales forecast composite method | ||
Jury of executive opinion method |
2 points
QUESTION 8
________ carry broad product assortments and compete on thebasis of offering a good selection in different product categoriesand offering lower prices on products in their largeassortments.
Specialty stores | ||
Mass merchandisers | ||
Category killers | ||
Convenience stores |
2 points
QUESTION 9
Which of the following best describes personal selling?
Personal selling is a paid form of communications about anorganization, its products, or its activities that is transmittedthrough a mass medium. | ||
Personal selling is an activity that offers customers orresellers a direct inducement for purchasing a product. | ||
Personal selling is a nonpaid form of communication that seeksto influence the attitudes, feelings, and opinions of stockholders,suppliers, employees, and political bodies about anorganization. | ||
Personal selling is face-to-face communication with potentialbuyers to inform them about and persuade them to buy anorganization's product. |
2 points
QUESTION 10
Which of the following best explains why Delicia Co., amanufacturer of potato chips, prices each bag of potato chips at 99cents rather than $1.00?
To encourage consumers to think the chips are less expensive | ||
To increase sales by offering the chips at a discountedprice | ||
To create a signal that these chips are exceptionally fine | ||
To attract those consumers who are not too sure about thequality of the chips |
2 points
QUESTION 11
Which of the following is NOT a step in the marketing researchprocess?
Performance of the research | ||
Plan of the research | ||
Preview of the research | ||
Preparation of the research report |
2 points
QUESTION 12
In the context of product purchasing, the diffusion ofinnovation is:
used to describe the ability of an organization to createentirely new products. | ||
applied to products at the introductory stage of the productlife cycle. | ||
used to describe an audit task. | ||
the spread of a product through the population. |
2 points
QUESTION 13
Distribution allowances are typical examples of ________.
push strategies | ||
profile strategies | ||
pull strategies | ||
mixed promotional strategies |
2 points
QUESTION 14
Which of the following is a benefit of mathematical modeling asa marketing research method?
It is ideal for investigating customer beliefs, attitudes,satisfaction, and other issues. | ||
It generates a substantial number of ideas when compared withother methods. | ||
It is involved in the analysis and interpretation of primarydata exclusively. | ||
It provides an efficient way to study problems with extremelylarge secondary data sets. |
2 points
QUESTION 15
Identify the persuasion objective of the sales force in personalselling.
To reassure consumers of product or service superiority throughdemonstrable actions | ||
To enable prompt delivery of the product or service that exceedscustomer expectations | ||
To ensure immediate follow-up calls and visits to addressunresolved or new concerns | ||
To clearly distinguish attributes of a firm's products orservices from those of competitors |
2 points
QUESTION 16
Which of the following statements is true of the influences ofprice, product, and promotions on consumer behavior?
Consistent bombarding of messages about a product will put offpotential consumers. | ||
Salespeople do not have a direct impact on consumer behavior andits patterns. | ||
Value-conscious consumers buy products on the basis of placerather than other attributes. | ||
Marketing communications play a critical role in informingconsumers about products and services. |
2 points
QUESTION 17
According to the VALS™ model, Experiencers are:
driven to demonstrate success. | ||
driven by a desire for social or physical activity. | ||
driven by knowledge and principles. | ||
driven by the level of resources and innovation. |
2 points
QUESTION 18
In which of the following stages of the new product developmentprocess is the new product proposal evaluated and responsibilityfor a project assigned to a project team?
Product development | ||
Idea screening | ||
Test marketing | ||
Project planning |
2 points
QUESTION 19
Which of the following is an advantage of secondary data overprimary data?
Secondary data sources are limited, making the information morevaluable. | ||
Secondary data are cheaper to obtain and utilize. | ||
Secondary data are collected specifically for the researchproblem under investigation. | ||
Secondary data are always available for strategy-specificresearch questions. |
2 points
QUESTION 20
An automobile manufacturing firm decides to meet all itssuppliers while planning to manufacture a new automobile that is aminor variant of an existing model in terms of design andperformance. The firm wants to provide its loyal customers withautomobiles at a low price without compromising on performance.According to authors Crawford and DiBenedetto, this new productfalls into the category of ________.
price redemptions | ||
repositionings | ||
price exemptions | ||
cost reductions |