Which classification would be helpful for managers to understand how costs will change if sales increase? Select one: cost classification by behaviour cost classification by relevance cost classification by traceability cost classification by function Benchmarking Select one: is a financial accounting technique used to improve profits involves studying organizations that are among the best in the world at performing a particular task none of these involves studying organizations that are among the worst in the world at performing a particular task Which of the following statements is (are) true? a company's goals are normally derived from the organization's stated mission organizations do not need viable strategy to achieve their goals and objectives none of these most businesses develop objectives along one dimension, which is profit The just-in-time inventory approach Select one: all of these tolerates a 10% level defects purchases materials and components and builds products before customer orders are received does not produce goods to keep in inventory to replace defective products Which of the following statements is false? Select one: to prevent unethical behaviour many organizations have implemented formal codes of ethical conduct often, unethical behaviour is a result of managers focusing on achieving long-term results all of these are false the conduct of organizations is an extremely important global issue Which of the following questions could be answered with managerial accounting information? Select one: a. Should I sell my shares of Apple Inc.? b. Is Apple Inc. generating enough cash through its operations? c. Should the payroll department be closed and the payroll function outsourced? d. What price should be charged for a product? e. c and d Which of the following is an implementation activity? Select one: identifying alternative courses of action carrying out the day-to-day activities of the organization selecting a course of action and specifying how it will be implemented selecting a course of action and specifying how much it will cost If 200 clients are served food the total variable cost is $10,000 and the total fixed cost is $2,000. What is the total food cost if 100 clients are served? Select one: 7,000 11,200 7,400 not enough information is given to answer this question Merchandising firms largely refer to retail outlets that manufacture goods and sell them to customers none of these retail outlets that buy goods from suppliers, transform them and then resell them to customers retail outlets that buy goods from suppliers and resell them to other companies only Which of the following is a major characteristic of total quality management? Select one: replacing people with machines producing enough inventory to replace defective goods all of these a focus on serving customers