1. What is JIT?

   	a.	Just in time
   	b.	Justin Timberlake
   	c.	Jobs in transit
   	d.	Just inventory transferrable

5 points

Question 15

1. Lean accounting is

   	a.	A costing method that focuses on value streams, as distinguished from individual products or departments, thereby eliminating waste in the accounting process
   	b.	A costing method that focuses on value streams undistinguishable from individual products or departments
   	c.	A method that results in increases to waste in the accounting process
   	d.	A six sigma process focused only on improving the manufacturing processes of medium to large businesses

5 points

Question 16

1. Chuck has been told that if he invests $500,000 on a solar system he can save $130,000 a year. The lifespan of the panels he is being sold are 10 years at which time they are rendered useless. The required rate of return is 10%. Ignore any tax and assume all cash flows occur at year end except for the initial investment amounts. Calculate the internal rate of return using the interpolation method. Round all results in each calculation to the thousandths.

   	a.	19.892%
   	b.	22.640%
   	c.	10.271%
   	d.	10.190%