Computer-Integrated Manufacturing (CIM) Includes Manufacturing Systems That Have

question 130

Multiple Choice

Computer-integrated manufacturing (CIM) includes manufacturing systems that have

• A) computer-aided design, a flexible manufacturing system, inventory control, warehousing and shipping integrated
• B) transaction processing, management information systems, and decision support systems integrated
• C) automated guided vehicles, robots, and process control
• D) robots, automated guided vehicles, and transfer equipment
• E) all of the above

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Definitions:

Statement of Consolidated Retained Earnings

A financial statement that shows the total amount of retained earnings, adjusted for dividends and other changes, for a parent company and its subsidiaries.

FIFO System

"First In, First Out," an inventory valuation method where the costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Cost Method

An accounting technique used to value an investment, where the investment is recorded at cost without recognizing periodic income but dividends received are recorded as income.

Goodwill Impairment

A decrease in the value of goodwill (intangible asset representing premium paid over fair value in a merger/acquisition) requiring adjustment to reflect its reduced value on the balance sheet.