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Which of the following is not a concern for management accountants in formulating a strategy? A) identifying the most important warehouse location for the distribution of goods B) maintaining adequate fixed assets available to implement the strategy C) strategizing compliance with GAAP (Generally Accepted Accounting Principles) D) substituting products that exist in the marketplace Which of the following statements about customer value is true? A) Creating value for customers is an important part of planning and implementing strategy B) Customer value is the only focus that helps managers to formulate strategies C) Customer value is lost with increase in costs of the product. D) Customer value is shown in a corporation’s balance sheet Place the four business functions in the order they appear along the value chain Customer service Design Marketing Production A) Customer Service, Marketing, Production, Design B) Customer Service, Design, Production, Marketing C) Design, Production, Marketing, Customer Service D) Design, Customer Service, Production, Marketing _____ is the generation of, and experimentation with, ideas related to new products, services. or processes A) Marketing B) Design of products, services, or processes C) Research and development D) Production _____ is a strategy that integrates people and technology in all business functions to enhance relationships with customers, partners, and distributors A) Customer relationship management B) Continuous quality improvement C) Supply chain analysis D) Value chain analysis Processing orders and shipping products or providing services to customers is known as _____ A) distribution B) after-sales services C) supply chain D) marketing Which of the following statements about a company’s supply chain is true? A) A company’s supply chain is the same thing as a company’s value chain. B) Management accountants provide information to enhance a company’s supply chain. C) A company’s supply chain is always external to a firm. D) A company’s supply chain is always internal to a firm. The most important planning tool is a _____ A) fishbone diagram B) budget C) performance evaluation report D) control chart A report showing the actual financial results for a period compared to the budgeted financial results for that same period would most likely be called a _____ A) management forecast B) strategic plan
Expert Answer
8) Option-C
Strategizing compliance with GAAP is not the concern for a management accountant in formulating a strategy as compliance with GAAP is about following the accounting principles in rcording transaction and book keeping.
9) Option-A
Creating value for customers is an important part of planning and implementation of strategy as it is the primary focus of the organisation but it is not the only focus of the organisation. there are many factors on which the organiation focuses on to create value to the customers. If the costs are adequate for the quality and quantity of the product then the statement customer value is lost with increase in cost of product is wrong. Customers value will not be shown in corporations balance sheet.
10) Option-C
the order of the four functions that appear in the value chain is
Design, production, marketing, customer service.
First the product will be designed then it will be produced later it will marketed to make the customers aware of the product and product related services will be provided to the customers.
11) Option-C
Research and development is the process of generation of and experimentation of with ideas and innovations to new products and services.
