The Following Is Selected Information from Alpha-Beta-Gamma Corporation for the Fiscal

question 231

Multiple Choice

The following is selected information from Alpha-Beta-Gamma Corporation for the fiscal year ending October 31, 2014. Based on the accrual basis of accounting, what is Alpha-Beta-Gamma Corporation's net income for the year ending October 31, 2014?

• A) $194,000.
• B) $114,000.
• C) $62,000.
• D) $130,000.

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Definitions:

Manufacturing Processes

Methods andtechniques used to transform raw materials and components into finished goods.

Value-Stream Mapping

A lean management tool for analyzing the current state and designing a future state for the series of events that take a product or service from its beginning through to the customer.

Process Mapping

A visual representation of the sequence of actions or steps involved in the production or service process, used to analyze and improve efficiency.

Process-focused Shop

A manufacturing or service setting where operations are organized around particular processes or tasks to improve efficiency and flexibility.