Question : MULTIPLE CHOICE. Choose the one alternative that best completes the statement : 1196146

Accounting

MULTIPLE CHOICE.

Choose the one alternative that best completes the statement or answers the question. 21)

Quality of design measures 21)

______ A)

how closely the characteristics of products or services match the needs and wants of the Board of Directors. B)

how closely the characteristics of products or services match the needs and wants of competitors. C)

how closely the characteristics of products or services match the needs and wants of employees. D)

how closely the characteristics of products or services match the needs and wants of union representatives. E)

how closely the characteristics of products or services match the needs and wants of customers.

22)

Conformance quality is 22)

______ A)

the performance of a product or service according to design and production specifications. B)

the performance of a product or service according to design specifications. C)

the performance of a product or service according to competitor information. D)

the performance of a product or service according to design and customer specifications. E)

the performance of a product or service according to employee specifications.

23)

Costs of quality include all of the following EXCEPT 23)

______ A)

external failure costs. B)

internal failure costs. C)

prevention costs. D)

appraisal costs. E)

correction costs.

24)

Costs incurred in detecting which of the individual units do not conform to specifications are called 24)

______ A)

prevention costs. B)

internal failure costs. C)

correction costs. D)

external failure costs. E)

appraisal costs.

25)

Which of the following are typically not included in COQ reports? 25)

______ A)

lost contribution margin from lost sales due to poor quality B)

lost contribution margin from lost sales and/or from lost production, nor lower prices that result form poor quality C)

lower prices that result from poor quality D)

allocation bases E)

lost production that results from poor quality

26)

Warranty repair costs are 26)

______ A)

appraisal costs. B)

an external failure cost. C)

a marketing cost. D)

prevention costs. E)

an internal failure cost.

27)

Try-Us-First Motors manufactures and sells off-road vehicles. The September sales were $6,000,000. Monthly design costs are $112,000 and rework is running at $75,000 per month. Its painting department is fully automated and requires substantial inspection to keep the machines operating properly. An improperly painted vehicle is very expensive to correct, and inspection hours for the 8,000 vehicles painted in September totaled 2,000 hours by 14 employees, who earn an average of $28 an hour. Ten litres of paint were used on average for each vehicle. The standard amount of paint per vehicle is nine litres. The cost of inspection for September was equal to the budgeted amount of $56,000.

What are appraisal costs as a percentage of sales? 27)

______ A)

2.20% B)

2.80% C)

1.87% D)

0.93% E)

1.25%

28)

Supplier evaluations are an example of 28)

______ A)

appraisal costs. B)

internal failure costs. C)

external failure costs. D)

design costs. E)

prevention costs.

29)

Internal failure costs include 29)

______ A)

rework. B)

liability claims C)

warranty expenses. D)

field repairs. E)

none of the above

30)

Prevention costs include all of the following EXCEPT 30)

______ A)

quality engineering. B)

supplier evaluations. C)

design engineering. D)

product testing. E)

none of the above

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July 1, 2023

121.In the context of the 1997 Asian crisis, how did the International Monetary Fund's “one-size-fits-all” approach to macroeconomic policy affect South Korea?

A. It led to a decrease in the interest rates of short-term loans.

B. It made it difficult for companies to service their excessive short-term debt obligations.

C. It decreased the probability of widespread corporate defaults.

D. South Korea failed to recover from its financial crises.

E. South Korea was forced to increase restrictions on foreign direct investment.

122._____ arises when people behave recklessly because they know they will be saved if things go wrong.

A. Systemic risk

B. Moral hazard

C. Ethical dilemma

D. Tragedy of the commons

E. Risk compensation

123.Jade, a working professional, began driving rashly ever since she got her car insured against damage. She believed that the insurance claim would cover her in case of any accidents. Jade’s behavior is due to a situation known as _____.

A. cognitive dissonance

B. conflict of interest

C. systemic risk

D. moral hazard

E. tragedy of the commons

124.The International Monetary Fund been criticized for:

A. its lack of “one-size-fits-all” approach to macroeconomic policy.

B. encouraging moral hazard among banks.

C. its lack of power and authority.

D. using external experts to gain knowledge about a country.

E. keeping its operations open to outside scrutiny.

125.According to the critics of the International Monetary Fund (IMF), how should the problem of moral hazard exhibited by banks be resolved?

A. The IMF should use a “one-size-fits-all” approach to macroeconomic policy.

B. The IMF should establish a mechanism for accountability.

C. The IMF should free all banks from the obligation of financial reporting.

D. The banks should be forced to pay the price for their rash lending policies.

E. The IMF should bail out the banks whose loans gave rise to financial crises.

126.According to the noted economist Jeffrey Sachs, the International Monetary Fund should:

A. not be accountable to anyone as it is a powerful institution.

B. bail out the banks that have rash lending policies.

C. have a “one-size-fits-all” approach to macroeconomic policy.

D. keep its operations open to greater outside scrutiny.

E. lend only to countries with safe credit ratings.

127.The International Monetary Fund programs have been counterproductive, or only had limited success in _____.

A. Turkey

B. Iceland

C. Greece

D. Ireland

E. Latvia

128.In response to the global financial crisis of 2008–2009, the International Monetary Fund began to:

A. exercise tight controls on fiscal policy of the borrowing countries.

B. encourage activities that resulted in high inflation rates.

C. display inflexibility in policy responses.

D. urge countries to adopt policies that included fiscal stimulus and monetary easing.

E. adopt a “one-size-fits-all” approach to macroeconomic policy.

129.Which of the following observations about the International Monetary Fund (IMF) is true?

A. The IMF can force countries to adopt the policies required to correct economic mismanagement.

B. Internal political problems can affect a government's commitment to taking corrective action in return for an IMF loan.

C. In recent years, the IMF has begun to make its policies more tight and inflexible.

D. In response to the global financial crisis of 2008–2009, the IMF began to adopt a “one-size-fits-all” approach to macroeconomic policy.

E. In recent years, the IMF has begun to urge countries to oppose fiscal stimulus and monetary easing.

130.Which of the following poses a problem for international businesses in the long run?

A. Using exchange rate instruments like the forward market and swaps

B. Volatility of global exchange rate regime

C. Anti-inflationary monetary policies

D. Maintaining strategic flexibility by dispersing production to different locations

E. A policy of reduction in government spending