| 1–1 | What is the basic difference in orientation between financial and managerial accounting? |
| 1–2 | What are the three major activities of a manager? |
| 1–3 | Describe the four steps in the planning and control cycle. |
| 1–4 | Distinguish between line and staff positions in an organization. |
| 1–5 | What are the major differences between financial and managerial accounting? |
| 1–6 | Identify the benefits that can result from reducing the setup time for a product. |
| 1–7 | What are the major benefits of a JIT system? |
| 1–8 | Why is Process Reengineering a more radical approach to improvement than Total Quality Management? |
| 1–9 | How can Process Reengineering undermine employee morale? |
| 1–10 | Where does the Theory of Constraints recommend that improvement efforts be focused? |
| 1–11 | Why is adherence to ethical standards important for the smooth functioning of an advanced market economy? |
