At the Acme Global Corporation, the Top Manager Reports to the Board

question 95

Multiple Choice

At the Acme Global Corporation, the top manager reports to the board of directors.The board is not involved in the day-to-day operations of the organization, but it can hire or fire top management.This represents the influence of _______ in the external environment on the organization.

• A)shareholders
• B)society
• C)technology
• D)economics
• E)governments

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Definitions:

Equivalent Units

A concept used in cost accounting to convert partially completed goods into an equivalent number of fully completed units for inventory valuation.

Processing Department

A division in a manufacturing operation where a specific type of processing or assembly occurs.

Conversion Costs

Combined costs of direct labor and manufacturing overhead, incurred in converting raw materials into finished goods.

Equivalent Units

A method used in cost accounting to express the amount of work done by incomplete units in terms of fully completed units.