Who uses information from an accounting system? A. Managers, stockholders, and taxing authorities use internal reporting for planning and controlling operations. Investors, government regulators, and other interested parties use external reporting. B. Managers use internal reporting for planning and controlling operations, special decision-making, and long-range planning. Stockholders, investors, taxing authorities, government regulators, and other interested parties use external reporting. C. Managers use internal reporting for planning and controlling operations, special decision-making, and long-range planning. Suppliers and customers use external reporting to plan for supplying product or making purchases. OD. Stockholders, investors, taxing authorities, government regulators, and other interested parties use internal reporting for investment and long-range planning. Managers use external reporting for planning and controlling operations and long-range planning. What is the essence of the JIT philosophy? A. The minimisation of costs by maximising quality. It focuses on continuous improvement in quality and satisfying one's customers. B. The improvement of operations throughout the value chain to deliver products that exceeds the customers wants and needs. OC. The elimination of waste, accomplished by reducing the time products spend in the production process and trying to eliminate the time spent in activities that do not add value to the product. OD. The application of continuous process improvements to eliminate waste from the entire enterprise. How do profit centers and investment centers differ? A. Investment centers go a step farther than profit centers. Both measure investments, but a profit center also compares that investment to profit using measures such as gross margin, return on stockholders' equity or earnings per share. B. Profit centers go a step farther than investment centers. Both measure profits, but an profit center also compares that profit to investment using measures such as return on investment, residual income or EVA. C. Investment centers go a step farther than profit centers. Both measure profits, but an investment center also compares that profit to investment using measures such as return on investment, residual income or EVA. D. Profit centers go a step farther than investment centers. Both measure profits, but a profit center also compares that profit to costs using measures such as gross margin, return on stockholders' equity or earnings per share