Text Final Flashcards

1
Q

Using cash to fund future revenue or operations

A

Investment Center

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2
Q

Return on investment
Sales margin
Capital turnover
Residual income

A

Investment Center

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3
Q

Directly involved with achieving the basic objectives of the organizations

A

Line positions

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4
Q

Indirectly involved and support the line functions

A

Staff positions

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5
Q

Summary performance that allow managers to assess how well the company’s objectives are being met

A

Key performance indicators

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6
Q

The time taken in processing a product or service that is justifiable to the customer as a cost

A

Value added time

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7
Q

Time spent while processing a product or service that is perceived as not being valid cost

A

Non valid added time

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8
Q

Time spent working on an order beginning and ending with the delivery of the product

A

Delivery cycle time

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9
Q

Time spent making the product beginning with when production begins until the product is shipped to the customer

A

Throughput time

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10
Q

Non-value added time that begins when the order is take and ends when production begins

A

Wait time

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11
Q

Value added fine that involves the actual time spent working on the product

A

Process time

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12
Q

Non value added time that is the time a product waits to be worked on

A

Queue time

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13
Q

Non value added some that is attributed to the time spent transporting the product

A

More time

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14
Q

Non value added time that is spent testing /reviewing the product to ensure quality

A

Inspection time

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15
Q

Percentage of throughput time spent on value added activities

A

Manufacturing cycle efficiency

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16
Q

Cost that is in the future and differs between alternative actions

A

Relevant information

17
Q

Financial
Non financial

A

Relevant information

18
Q

Potential benefits foregone by choosing one alternative over another

A

Opportunity cost

19
Q

Any cost that has been previously incurred and cannot be changed by a future decision

A

Sunk cost

20
Q

The difference between the revenues/costs between two alternatives

A

Differential revenue/costs

21
Q

The additional cost of selecting one alternative over another

A

Incremental cost

22
Q

Heavy competition
Standard product
Use target costing

A

Price taker

23
Q

Low competition
Unique product
Use post plus pricing

A

Price setter