CPA BAR Business Analysis Cost Management MCQs Test 4

General4 MCQs

1. What are the four categories of quality costs?

A. Quality costs include only failure costsB. Quality costs include only prevention costsC. Quality costs are not relevant to managementD. Quality costs include prevention, appraisal, internal failure, and external failure costs

2. What is just-in-time (JIT) inventory management?

A. JIT increases inventory levelsB. JIT reduces inventory by aligning deliveries with production needsC. JIT is not used in modern manufacturingD. JIT only applies to retail companies

General4 MCQs

3. What is lean accounting?

A. Lean accounting is the same as traditional accountingB. Lean accounting focuses on product costs onlyC. Lean accounting supports lean manufacturing with value stream costing and simplified reportingD. Lean accounting is not used in practice

4. What is cost-volume-profit (CVP) analysis?

A. CVP analysis examines the relationships between cost, volume, and profitB. CVP analysis is the same as variance analysisC. CVP analysis is used only for long-term decisionsD. CVP analysis ignores fixed costs

CPA BAR Business Analysis Cost Management MCQs Test 4

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