MBA EXIT EXAM LATEST
ISO 9000 - ANSWERS-certification standards developed by the International Org
for Standardization (ISO) that serve as basis for quality stds for global
manufacturers
JIT manufacturing - ANSWERS-Manu approach that produces only what is
necessary to satisfy the demand of the preceding process. demand-pull system
job design - ANSWERS-determination of specific job tasks and responsibilities,
the work environment, and work methods
johnson's rule - ANSWERS-technique that can be used to minimize the completion
time for a group of jobs that are to be processed on two machines or at two
successive work centers
joint tenancy - ANSWERS-undivided ownership of property where the surviving
tenant succeeds to the ownership interest of the deceased tenant with the deceased
tenant having no opportunity to pass his or her interest to someone else by will
joint venture - ANSWERS-the sharing of risk and responsibility with a firm in a
foreign country
just in time (JIT) - ANSWERS-demand pull system where demand for customer
output (not plans for using input resources) triggers production.
END OF
PAGE 1
, MBA EXIT EXAM LATEST
Kanban - ANSWERS-Japanese info system for coordinating production orders and
withdrawals from in-process inventory to realize JIT production
lagging - ANSWERS-delaying payment or receipt of a foreign currency until
there's an offsetting transaction for the purpose of reducing transaction exposure
law of one price - ANSWERS-an equilibrium between the price of a tradable good
in one country and its price in another country. arbitrage ensures that the prices are
equivalent when translated at the current exchange rate
lead time - ANSWERS-time between the placing of an order and its receipt in the
inventory system
leading - ANSWERS-accelerating pmt or receipt of a foreign currency until there
is an offsetting transaction for the purpose of reducing transaction exposure
learning curve effect - ANSWERS-reduction in labor hours as the cumulative
production doubles, ranging typically from 10%-20%
least-squares method - ANSWERS-statistical technique for fitting a straight line
through a set of points in such a way that the sum of squared distances from the
data points to the line is minimized
letter of credit - ANSWERS-contractual commitment by a bank to make pmt for
goods shipped to an importer. eliminates exposure of exporters to credit risk
END OF
PAGE 2
, MBA EXIT EXAM LATEST
level plan - ANSWERS-aggregate production plan that maintains a uniform output
rate
LIBOR (London interbank offer rate) - ANSWERS-an interbank market interest
rate in eurocurrency deposits lent by banks to one another.
licensing - ANSWERS-a procedure whereby a foreign firm permits a domestic
firm to produce and market goods on its behalf in return for royalties on sales or a
share of profits
life-cycle costing - ANSWERS-estimates of a prod's revenues and expenses over
its expected life cycle. result is to highlight upstream and downstream costs in the
cost planning process that often receive insufficient attention. emphasis is on the
need to price products to cover all costs, not just production costs
line balancing - ANSWERS-process of distributing the workloads evenly
linear programming (LP) - ANSWERS-mathematical technique designed to
determine an optimal decision or plan chosen from a large number of possible
decisions
linear regression - ANSWERS-regression that deals with a SL relationship
between variables
END OF
PAGE 3
, MBA EXIT EXAM LATEST
link financing - ANSWERS-financing technique where banks arrange for 2 firms
in 2 countries to borrow each other's currency and then make an offsetting
arrangement to pay off each other's loan at maturity. eliminates their exposure to
exchange rate changes
local area network (LAN) - ANSWERS-linking of computers and other devices for
inter site and Interco applications in a small geographic area
locational break-even analysis - ANSWERS-technique that compares potential
locations on an economic basis by estimating the VC and FC and then graphing
them for a representative sales or production volume at each location
lockbox - ANSWERS-used to facilitate collection of customer remittances. use of
them reduces processing float.
logo - ANSWERS-symbol, design, picture, or any figure that represents an indiv or
firm. TM, unique trade names, or associated sounds are "logotypes"
long-range objectives - ANSWERS-specification of the results desired in pursuing
the organization's mission and normally extend beyond the current fiscal year of
the org
loss leaders - ANSWERS-items priced to attract customers who will then purchase
other std or high-profit margin items
END OF
PAGE 4
ISO 9000 - ANSWERS-certification standards developed by the International Org
for Standardization (ISO) that serve as basis for quality stds for global
manufacturers
JIT manufacturing - ANSWERS-Manu approach that produces only what is
necessary to satisfy the demand of the preceding process. demand-pull system
job design - ANSWERS-determination of specific job tasks and responsibilities,
the work environment, and work methods
johnson's rule - ANSWERS-technique that can be used to minimize the completion
time for a group of jobs that are to be processed on two machines or at two
successive work centers
joint tenancy - ANSWERS-undivided ownership of property where the surviving
tenant succeeds to the ownership interest of the deceased tenant with the deceased
tenant having no opportunity to pass his or her interest to someone else by will
joint venture - ANSWERS-the sharing of risk and responsibility with a firm in a
foreign country
just in time (JIT) - ANSWERS-demand pull system where demand for customer
output (not plans for using input resources) triggers production.
END OF
PAGE 1
, MBA EXIT EXAM LATEST
Kanban - ANSWERS-Japanese info system for coordinating production orders and
withdrawals from in-process inventory to realize JIT production
lagging - ANSWERS-delaying payment or receipt of a foreign currency until
there's an offsetting transaction for the purpose of reducing transaction exposure
law of one price - ANSWERS-an equilibrium between the price of a tradable good
in one country and its price in another country. arbitrage ensures that the prices are
equivalent when translated at the current exchange rate
lead time - ANSWERS-time between the placing of an order and its receipt in the
inventory system
leading - ANSWERS-accelerating pmt or receipt of a foreign currency until there
is an offsetting transaction for the purpose of reducing transaction exposure
learning curve effect - ANSWERS-reduction in labor hours as the cumulative
production doubles, ranging typically from 10%-20%
least-squares method - ANSWERS-statistical technique for fitting a straight line
through a set of points in such a way that the sum of squared distances from the
data points to the line is minimized
letter of credit - ANSWERS-contractual commitment by a bank to make pmt for
goods shipped to an importer. eliminates exposure of exporters to credit risk
END OF
PAGE 2
, MBA EXIT EXAM LATEST
level plan - ANSWERS-aggregate production plan that maintains a uniform output
rate
LIBOR (London interbank offer rate) - ANSWERS-an interbank market interest
rate in eurocurrency deposits lent by banks to one another.
licensing - ANSWERS-a procedure whereby a foreign firm permits a domestic
firm to produce and market goods on its behalf in return for royalties on sales or a
share of profits
life-cycle costing - ANSWERS-estimates of a prod's revenues and expenses over
its expected life cycle. result is to highlight upstream and downstream costs in the
cost planning process that often receive insufficient attention. emphasis is on the
need to price products to cover all costs, not just production costs
line balancing - ANSWERS-process of distributing the workloads evenly
linear programming (LP) - ANSWERS-mathematical technique designed to
determine an optimal decision or plan chosen from a large number of possible
decisions
linear regression - ANSWERS-regression that deals with a SL relationship
between variables
END OF
PAGE 3
, MBA EXIT EXAM LATEST
link financing - ANSWERS-financing technique where banks arrange for 2 firms
in 2 countries to borrow each other's currency and then make an offsetting
arrangement to pay off each other's loan at maturity. eliminates their exposure to
exchange rate changes
local area network (LAN) - ANSWERS-linking of computers and other devices for
inter site and Interco applications in a small geographic area
locational break-even analysis - ANSWERS-technique that compares potential
locations on an economic basis by estimating the VC and FC and then graphing
them for a representative sales or production volume at each location
lockbox - ANSWERS-used to facilitate collection of customer remittances. use of
them reduces processing float.
logo - ANSWERS-symbol, design, picture, or any figure that represents an indiv or
firm. TM, unique trade names, or associated sounds are "logotypes"
long-range objectives - ANSWERS-specification of the results desired in pursuing
the organization's mission and normally extend beyond the current fiscal year of
the org
loss leaders - ANSWERS-items priced to attract customers who will then purchase
other std or high-profit margin items
END OF
PAGE 4
