Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know
Remaining cards (0)
Know
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Bus 202

Glossary Quiz #2

QuestionAnswer
Activity based costing (ABC) A method of allocating overhead based on each product's use of activities in making the product
Balanced scorecard A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion
Board of directors The group of officials elected by the stockholders of a corporation to formulate operating policies, select officers, and otherwise manage the company
Chief Executive Officer (CEO) Corporate officer who has overall responsibility for managing the business and delegates responsibilities to other corporate officers
Chief Financial officer (CFO) Corporate officer who is responsible for all of the accounting and finance issues of the company
Controller Financial officer responsible for a company's accounting records, system of internal control, and preparation of financial statements, tax returns, and internal reports
Corporate social responsibility The efforts of a company to employ sustainable business practices with regard to its employees and the environment
Cost of goods manufactured Total cost of work in process less the cost of the ending work in process inventory
Direct Labor The work of factory employees that can be physically and directly associated with converting raw materials into finished goods
Direct Materials Raw materials that can be physically and directly associated with manufacturing the finished product
Enterprise resource planning (ERP) system Software that provides a comprehensive, centralized, integrated source of information used to manage all major business processes.
Indirect Labor work of factory employees that has no physical association with the finished product, or for which it is impractical to trace the costs to the goods produced
Indirect Materials Raw Materials that do not physically become part of the finished product or for which it is impractical to trace to the finished product
Just in time Inventory inventory system in which goods are manufactured or purchased just in time for the sale
Line positions Jobs that are directly involved in a company's primary revenue-generating operating activities
Managerial accounting A field of accounting that provides economic and financial information for managers and other internal users
Manufacturing overhead Manufacturing cost that are indirectly associated with the manufacture of the finished product
period cost cost that are matched with the revenue of a specific time period and charged to expense as incurred
Product Cost Cost that are a necessary and integral part of producing the finished product
Sarbanes-Oxley Act Law passed by congress intended to reduce unethical corporate behavior
Staff positions Jobs that support the efforts of line employees
Theory of constraints A specific approach used to identify and manage constraints in order to achieve the company's goals
Total cost of work in process Cost of the beginning work in process plus total manufacturing cost for the current period
Total manufacturing cost The sum of direct materials, direct labor, and manufacturing overhead incurred in the current period
Total quality management Systems implemented to reduce defects in finished products with the goal of achieving zero defects
Treasurer Financial officer responsible for custody of a company's funds and for maintaining its cash position
Triple bottom line The evaluation of a company's social responsibility performance with regard to people, planet, and profit
Value chain All activities that a business processes with providing a product or service
Created by: cammccarty
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards