Which of the Following Is the Correct Equation for Team

question 4

Multiple Choice

Which of the following is the correct equation for team effectiveness according to the open systems model of teams?

• A) Team effectiveness = Quality of inputs x Process gains + Process losses)
• B) Team effectiveness = Quality of outputs + Process gains x Team inputs)
• C) Team effectiveness = Quality of inputs x Process gains - Process losses)
• D) Team effectiveness = Quality of outputs x Process gains + Process losses)

Determine the cost of ending work in process inventory and the cost of units transferred out using the weighted-average method.

Compute the costs per equivalent unit for materials and conversion costs.

Appreciate the importance of cost accounting in pricing, cost control, and decision making within a manufacturing environment.

Understand the definition and application of the FIFO method in process costing.

---

Definitions:

FVTPL

The acronym stands for Fair Value Through Profit or Loss; this designation refers to financial assets or liabilities that are recorded at fair value, with any changes directly affecting profit or loss.

Fair Value

An estimate of the price at which an asset or liability could be traded in a fair transaction between willing parties, other than in a forced or liquidation sale.

Unrealized Gain

A profit that exists on paper resulting from an investment that has not yet been sold for cash, indicating an increase in value of the asset.

Equity Method

An accounting technique used to record an investor's proportional share of the associate company's earnings and losses.