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Questions and Answers
In service firms, what is a major component of costs?
In service firms, what is a major component of costs?
- Equipment
- Labor (correct)
- Materials
- Overhead
What is a key characteristic of service organizations?
What is a key characteristic of service organizations?
- They produce tangible products
- They can store their major inputs and outputs
- They cannot store their major inputs and outputs (correct)
- Their output is usually easy to measure
Why is it essential for accountants to maintain professional integrity?
Why is it essential for accountants to maintain professional integrity?
- To ensure accurate financial reporting
- To enhance their professional reputation
- Because users cannot evaluate the quality of accounting information (correct)
- To increase their salary
What is a key aspect of being a professional accountant?
What is a key aspect of being a professional accountant?
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What is the primary goal of enterprise resource planning (ERP) systems?
What is the primary goal of enterprise resource planning (ERP) systems?
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What is a consequence of a poor management accounting system?
What is a consequence of a poor management accounting system?
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What is a key difference between the service sector and the manufacturing sector?
What is a key difference between the service sector and the manufacturing sector?
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Why are business process changes important to management accounting?
Why are business process changes important to management accounting?
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What is a benefit of business process reengineering?
What is a benefit of business process reengineering?
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What is the role of accountants in business process changes?
What is the role of accountants in business process changes?
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