Production & Operations
Technology & Manufacturing
Accounting
Financial Management
Random
100
The creation of goods using land, labor, materials, capital,entrepreneurship, and knowledge (factors of production)
What is Production?
100
What does CAD mean?
Computer-Aided Design:
The use of computers in the design of products.
100
What are the 3 financial statements from class?
Balance Sheet, Income Statement, Cash Flow
100
What are 2 types of financing from external sources?
Debt Financing: Borrowing money from a financial institution (bank, savings and loan, etc.) or borrowing money from the market (bonds)
Equity Financing: Rather than borrowing funds, it involves taking on new owners. (This can dilute the ownership of previous stockholders and can be negative!)
100
Definition of money?
Anything people generally accept as payment for goods and services.
200
All the activities managers engage in to help firms create goods
What is production management?
200
What does CAM mean?
Computer-Aided Manufacturing:
The use of computers in the manufacturing of products.
200
What are the 2 types of accounting?
Manegerial and Financial
200
Leverage is a measure of:
The use of owner investment or debt to finance growth of a firm.
Basically, how much of the financing in the company came from debt rather than equity.
200
Which week is our last midterm?
Week 10
300
A specialized area in management that converts or transforms resources into goods and services
What is operations management?
300
What does CIM mean?
Computer-Integrated Manufacturing:
Use of both computer-aided design and computer-aided manufacturing.
300
What is the equation used to represent the balance sheet?
Assets = Liabilities + Owner Equity
300
What is the Current Ratio?
Current Assets / Current Liabilities
Higher number is better, more assets than liabilities
300
What is falling dollar value and rising dollar value?
Weak - Falling Dollar Value: Amount of foreign goods/services you can buy with $1 DECREASES
Strong - Rising Dollar Value: Amount of foreign goods/services you can buy with $1 INCREASES
Dollar rises or falls due to the position of the US economy relative to other global economies
400
What are the 3 types of facility layouts?
Modular Layout
Assembly Line Layout
Fixed-Position Layout
400
The production process in which a minimum of inventory is kept and parts, supplies, and other needs are delivered just in time to go on the assembly line.
What is Just-In-Time Inventory Control?
400
What is the equation used to represent the Income Statement?
Profit = Revenue - Expenses
400
What is the Quick/Acid Ratio?
( Current Assets - Inventories ) / Current Liabilities
Measure of liquidity, how fast can company cover liabilities with short term assets?
400
What is Kian's Major?
Data Science
500
What is the Production Process? (4 steps)
Inputs-> Production Control-> Outputs
500
Quality measure that allows only 3.4 defects per million opportunities.
What is Six Sigma Quality?
500
Which company spent the most money on increasing inventory?
Chester
500
What is the Debt to Equity Ratio?
Total Debt / Total Owner's Equity
Compares amount you owe to the amount you own. The lower the ratio, the less you owe
500
I have 2 finals this term. What is one of the days of the week I will have a final exam?
Monday and Friday