1) To focus on serving customers’ needs, management implemented----------- which involved becoming a learning organization engaged in continuous improvement

1) To focus on serving customers’ needs, management implemented----------- which involved becoming a learning organization engaged in continuous improvement.

A. total quality managment (TQM)

B.income statement review

C.forecasting

D.budget analysis

2)To determine how sales to customers and investment in assets are impacting the bottom line, managers analyze------------

A.leverage ratios.

B.the balance sheet

C.liquidity ratios

D.profitability ratios

3)The financial department prepares --------- to provide a snapshot of a firm’s current and fixed assets and short- and long-term liabilities at a given point in time.

A. a balance sheet

B.an income statement

C.a measurement report

D.an ISO 9000 certification

4. Albert is a manager at a local clothing store. He is meeting with senior managers to review sales projections and outcomes for the past year. At the beginning of the year, Albert worked with these same managers to create sales forecasts and plans, which were then used to allocate resources throughout the store. Now the group is looking to see if the store’s sales matched the projected figures.

This scenario is an example of ------- a principle that is most likely being implemented to -------------

first blank choices:

a) budget review

b)total quality managment

C)six sigma

second blank choices:

a) identifying performance gaps

b)increase albert's salary

c)eliminate waste