QUESTION 18

The benefit lost when one option is chosen that precludes the benefit from an alternative option is a(n):

	a.	Sunk cost.
	b.	Discretionary cost.
	c.	Discrete cost.
	d.	Differential cost.
	e.	Opportunity cost.

QUESTION 19

Which one of the following is a high value-added activity?

	a.	Setting up.
	b.	Reworking.
	c.	Repairing.
	d.	Storing.
	e.	Processing.

QUESTION 21

The management of activities to improve the value received by the customer and the profit achieved by providing this value is:

	a.	Cost driver analysis.
	b.	Pareto analysis.
	c.	Activity-based management.
	d.	Performance measurement.
	e.	Attribute-based management.