Part A: 
1. The text says that Toyota has focused on quality as its operations capability. Describe two ways that Toyota's operations might have changed if it had focused on low cost instead of quality. 
2. Fedex and the US Postal Service compete for many of the same customers. Describe two ways their strategies for attracting customers are different. 
Part B
Mary Ann has always loved to cook and is interested in starting a catering business. Being aware of the failure rate of new businesses, she is considering buying an existing catering business that is up for sale. The current owners claim that the business is highly profitable, but Mary Ann has her doubts. She wonders why the owners would be interested in selling the business if it is such a money maker. Moreover, the price that they are asking seems to Mary Ann. Without any formal training in accounting, Mary Ann asks a friend, Rolanda, for advice. 
1. Roland's suggested that Mary Ann benefit from the services of a noncertified public accountant. Describe two types of services that could be provided. 
2. The auditors report has come back and Mary Ann is reviewing the financial statements. The current balance sheet shows that the business has more liabilities than assets. Why would this explain the need to sell the business? Provide two supporting facts. 
3. Roland's suggests that, even when the negative equity owners, this business might still be worth buying. It describes one other indicator, a financial term found within the auditors report that they should consider for this decision.