1. Which of the following is NOT a principle of lean manufacturing?a. Products a

1. Which of the following is NOT a principle of lean manufacturing?a. Products are pushed from the production end to the customer.b. All activities that do not add value and maximize the use of scarce resources must be eliminated.c. Achieve high inventory turnover rate.d. A lean manufacturing firm must have established and cooperative relationships with vendors.e. All of the above are lean manufacturing principles.2. All of the following are problems with traditional accounting information EXCEPT:a. Managers in a JIT setting require immediate information.b. The measurement principle tends to ignore standards other than money.c. Variance analysis may yield insignificant values.d. The overhead component in a manufacturing company is usually very large.e. All of these are problems associated with traditional accounting information.3. Which of the following is NOT a problem associated with standard cost accounting?a. Standard costing motivates management to produce large batches of products and build inventory.b. Applying standard costing leads to product cost distortions in a lean environment.c. Standard costing data are associated with excessive time lags that reduce its usefulness.d. The financial orientation of standard costing may promote bad decisions.e. All of the above are problems with standard costing.4. Which one of the following statements is true? a. ERP evolved directly from MRP.b. ERP evolved into MRP and MRP evolved into MRP II.c. MRP II evolved from MRP and MRP II evolved into ERP.d. None of the above is true.

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