Quality & Business Acumen Practice Test 2 Part A

Front

Investment capital does not have a ‘cost’ associated with it since it is used for investing in the future growth of the business. True or False?

Back

False

Front

Employees of a business do not need to know how the business is doing or what its future is since that is the responsibility of the managers. True or False?

Back

False

Front

Most of the ideas as to how to make a business successful come from the workers on the ‘floor’.

Back

True

Front

Shows the uses of cash within the business: Balance sheet, Cash flow statement, Income statement

Back

Cash flow statement

Front

Quality is a ‘value’ judgement based on the customer’s expectations

Back

True

Front

Which does I stand for in the DMAIC acronym?

Back

Improves, improve

Front

Six-Sigma (DMAIC) is only practiced on high speed production lines:

Back

False

Front

Labor cost increases due to inefficient use of materials and processes is a result of poor quality.

Back

True

Front

LEAN operations reduce overproduction.

Back

True

Front

Poor utilization of human resources is reduced by a sound, LEAN operation.

Back

True