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Cost Accounting 101 Practice Test: Balanced Scorecard - Quality, Time, and the Theory of Constraints
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Balanced scorecard: Quality, Time, and the Theory of Constraints is a topic that describes quality as a competitive tool, the four perspectives of a balanced scorecard, and the Theory of Constraints (TOC).  Quality is the total characteristics of a service or product that is made or performed according to specifications to satisfy customers.  The four perspectives of a balanced scorecard are: Financial, Customer, Internal Process, and Learning and Growth.  The TOC is a management philosophy that identifies and manages organizational bottlenecks that impede efficiency and productivity. It's... Show more
Cost Accounting 101 Practice Test: Balanced Scorecard - Quality, Time, and the Theory of Constraints
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25 Questions

1. The cost of quality measure has all of the following advantages EXCEPT:
2. Nonfinancial measures of quality are often difficult to quantify and easy to understand.
3. A Pareto Diagram is usually in a bar-chart format, and it shows how often a particular problem has occurred.
4. The theory of constraints is used for cost analysis when:
5. Prevention costs include inspection and product testing.
6. Statistical quality control includes a control chart that:
7. A control chart identifies potential causes of failures or defects.
8. An example of a nonfinancial measure of customer satisfaction would be the percentage of products that fail soon after delivery.
9. Companies that use manufacturing lead time as the base for allocating manufacturing costs to products consider that it has the following benefit(s):
10. Two common operational measures of time are customer-response time and manufacturing lead time.
11. Quality of design measures how closely the characteristics of products or services match the needs and wants of customers. Conformance quality:
12. When evaluating alternatives to improve quality, both the relevant benefits as well as the relevant costs should be considered.
13. Design engineering is an example of:
14. An important difference between financial measures of quality and nonfinancial measures of quality is that:
15. The number of design and process changes made to improve design quality or reduce costs of quality is a type of nonfinancial quality measure.
16. Costs incurred in detecting which of the individual units of products do NOT conform to specifications are:
17. Manufacturing Cycle Efficiency (MCE) = Value-added Manufacturing Time divided by Manufacturing Cycle Time
18. Quality management provides an important competitive edge because it:
19. Cost of Quality financial measures will usually deteriorate when nonfinancial measures of quality are emphasized and improved.
20. Six Sigma emphasizes incremental rather than dramatic or disruptive innovation.
21. A measurement of market share is considered a financial measure of customer satisfaction.
22. Preventive equipment maintenance is an example of:
23. Costs of Quality (COQ) are classified into four categories: prevention costs, appraisal costs, inspection costs, and warranty costs.
24. Warranty costs are an example of internal failure costs.
25. Quality is defined as the total features and characteristics of a product or a service made or performed according to specifications to satisfy customers at the time of purchase and during use.

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