Mng Acc Study Guide Graded A+

Business Process {Ans: a series of steps that are followed to carry out some task in a business.}Value Chain {Ans: consists of business functions that add value to a company's products and services, such as research and development, product design, manufacturing, marketing, distribution, and customer service.}Code of Professional Ethics {Ans: contains details of how its members should conduct themselves in their dealings with the public.}Decentralization {Ans: the delegation of decision-making authority throughout an organization by allowing managers at various operating levels to make key decisions relating to their area of responsibility is called}Feedback {Ans: The accounting and other reports coming to management that are used in controlling the organization are called}Non Value Added Activity {Ans: Increasing the output of something unlikely to generate more profit}Directing and Motivating {Ans: managers oversee day-to-day activities and keep the organization functioning smoothly.}Business Risks {Ans: Poorly designed products that cause health problems for customers and financial statements that overstate the amount of revenue generated by the organization}Enterprise System {Ans: integrates data from across an organization into a single centralized database that enables all employees to access a common set of data.}Sarbanes-Oxley Act of 2002 {Ans: