1) Which of the following is a major factor causing changes in management accounting today?
A) decreased global competition
B) advances in technology
C) shift to manufacturing-based economy
D) expansion of the value chain
2) Which is NOT a service organization?
A) Rainbow Dry Cleaners
B) Law Firm of Cannon and Dunfy
C) Shoreeast Real Estate Company
D) Irwin Publishing Company
3) All service organizations are similar in that ________.
A) there is very little labor
B) output is difficult to measure
C) major inputs and outputs can be stored
D) they are capital intensive
4) Dell Inc. buys electronic components for laptop computers from Intel using the Internet. This is an example of a(n) ________.
A) A2B transaction
B) B2B transaction
C) B2C transaction
D) C2B transaction
5) Which statement is FALSE concerning Enterprise Resource Planning (ERP) systems?
A) Well known ERP system providers are SAP, Microsoft Dynamics and JD Edwards.
B) Accountants are involved with ERP systems.
C) ERP systems only support a few functional areas of a company.
D) ERP systems are having a major effect on accounting systems.
6) Which of the following is NOT a new direction in business process management?
A) JIT philosophy
C) Six Sigma
7) The service sector accounts for approximately 40 percent of the employment in the United States at the present time.
8) The essence of the just-in-time philosophy is to eliminate waste.
9) Companies that have a fully installed computer-integrated manufacturing system are usually labor intensive.
10) XBRL is an integrated information system that supports all functional areas of a business.
11) List and explain the four major business trends that are currently causing changes in management accounting.