Quality & Business Acumen Practice Test 1 Part B

Front

It is not important for the manager of a department to be respected by his/her people since the business sets the environment in which they work.

Back

False

Front

In Adam Smith’s book The Wealth of Nations, he states that the work that individuals do in a business is purely for their own good.

Back

True

Front

The customer is the ultimate determiner as to whether a business is successful or not.

Back

True

Front

Using the graph, select the most desirable production volume for the product: 3, 5, 6, 8, 10.

Back

5

Front

Shows a company owner's equity.

Back

Balance sheet

Front

What is ‘Cost of Goods Sold’?

Back

Costs directly related to producing & selling the product

Front

What organization did LEAN concepts originally come from?

Back

Toyota, toyota production system

Front

Prevention of mistakes and poor quality is data driven.

Back

True

Front

Which does D stand for in the DMAIC acronym?

Back

Define, definition

Front

Which does C stand for in the DMAIC acronym?

Back

Controls, control