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AACE CCT PRIMER EXAM AND PRACTICE EXAM NEWEST 2025/2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED||
The product lifecycle is the complete history of a product through
its ______, definition, production, operation, and obsolescence
/______ phases. - ANSWER-concept, disposal
The distinction between product life cycle and project life cycle is
that the latter does not include the ______ and ______. -
ANSWER-operation, disposal
___________ is the systematic numeric method of classifying
various categories of costs for accounting purposes - ANSWER-
Code of Accounts
______ is used used in situations where each job is different and
is performed to the customer's specifications. ______ involves
keeping an account of direct costs (labor, machine time, raw
materials) and indirect costs (overheads) - ANSWER-Job Costing,
Job Costing
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A process is a sequence or independent & linked procedures
which ___________ to convert inputs into outputs. These outputs
then serve as inputs for the next stage until a known goal or end
result is reached - ANSWER-consume resources
A _____ is a good, idea, method, information, object, service, etc,
that is the end result of a process & serves as a need or want
satisfierProduct - ANSWER-Product
Product manufactured along with a different product, in a process
in which both are required in the production of another product
are considered _____ - ANSWER-Co-products
A key feature of a ____ is that it has low value in comparison with
the principal product(s) & may be discarded or sold - ANSWER-
by-product
Types of Manufacturing Operations include _____, ______ run
and _____ shop - ANSWER-Process, Batch, Job
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This manufacturing operation runs almost continuously making
the same thing. Examples are refining and chemical plants, and
very long run assembly operations. - ANSWER-Process
A ______ characterized by setting up for one product, producing a
set quantity of product, and then shutting down to change over to
producing another product. - ANSWER-Batch Run
A _______ Similar to a batch run operation, except that you only
produce 1 of the item. Each job results in a customized product.
Examples are metal fabrication, prototype, fabrication. -
ANSWER-job shop
Roles such as executive/senior management, legal, HR, business
development, etc. These roles are the farthest removed from the
actual production of discrete product at the various facilities. They
are shared across many production locations and considered
______. - ANSWER-overhead
, 4|Page
______ are field/plant support personnel, located at the site.
These resources help the operation run smoothly. These are
people like local payroll, facility maintenance, site project controls,
site senior (office-based) supervisors and management who are
shared across the various products the particular location
produces. - ANSWER-Indirects
_______are the remote location people directly involved in
producing the product. These are the easiest to correlate their
effort to a particular product. First line supervisors are also
normally considered ______. - ANSWER-Directs
The owner approaches cost from a _____ point of view. Owners
not only consider the cost of the construction, or process, but
______ supervision
and overhead, implementation costs, cost of money, furniture,
fixtures, equipment( FFE) and other considerations - ANSWER-
holistic, internal
AACE CCT PRIMER EXAM AND PRACTICE EXAM NEWEST 2025/2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED||
The product lifecycle is the complete history of a product through
its ______, definition, production, operation, and obsolescence
/______ phases. - ANSWER-concept, disposal
The distinction between product life cycle and project life cycle is
that the latter does not include the ______ and ______. -
ANSWER-operation, disposal
___________ is the systematic numeric method of classifying
various categories of costs for accounting purposes - ANSWER-
Code of Accounts
______ is used used in situations where each job is different and
is performed to the customer's specifications. ______ involves
keeping an account of direct costs (labor, machine time, raw
materials) and indirect costs (overheads) - ANSWER-Job Costing,
Job Costing
,2|Page
A process is a sequence or independent & linked procedures
which ___________ to convert inputs into outputs. These outputs
then serve as inputs for the next stage until a known goal or end
result is reached - ANSWER-consume resources
A _____ is a good, idea, method, information, object, service, etc,
that is the end result of a process & serves as a need or want
satisfierProduct - ANSWER-Product
Product manufactured along with a different product, in a process
in which both are required in the production of another product
are considered _____ - ANSWER-Co-products
A key feature of a ____ is that it has low value in comparison with
the principal product(s) & may be discarded or sold - ANSWER-
by-product
Types of Manufacturing Operations include _____, ______ run
and _____ shop - ANSWER-Process, Batch, Job
,3|Page
This manufacturing operation runs almost continuously making
the same thing. Examples are refining and chemical plants, and
very long run assembly operations. - ANSWER-Process
A ______ characterized by setting up for one product, producing a
set quantity of product, and then shutting down to change over to
producing another product. - ANSWER-Batch Run
A _______ Similar to a batch run operation, except that you only
produce 1 of the item. Each job results in a customized product.
Examples are metal fabrication, prototype, fabrication. -
ANSWER-job shop
Roles such as executive/senior management, legal, HR, business
development, etc. These roles are the farthest removed from the
actual production of discrete product at the various facilities. They
are shared across many production locations and considered
______. - ANSWER-overhead
, 4|Page
______ are field/plant support personnel, located at the site.
These resources help the operation run smoothly. These are
people like local payroll, facility maintenance, site project controls,
site senior (office-based) supervisors and management who are
shared across the various products the particular location
produces. - ANSWER-Indirects
_______are the remote location people directly involved in
producing the product. These are the easiest to correlate their
effort to a particular product. First line supervisors are also
normally considered ______. - ANSWER-Directs
The owner approaches cost from a _____ point of view. Owners
not only consider the cost of the construction, or process, but
______ supervision
and overhead, implementation costs, cost of money, furniture,
fixtures, equipment( FFE) and other considerations - ANSWER-
holistic, internal
