alleryStart learning →In value engineering, value is the ratio of what?
- Function to cost
- Cost to price
- Output to input
- Profit to sales
Show answer and solution
Correct answer: A. Function to cost
Value can be raised by improving function or by cutting cost.
CA Final Introduction to Strategic Cost Management — practice questions — page 3
Explore 65 free Introduction to Strategic Cost Management questions in CA Final Cost and Management Accounting. Open each question or exercise to read its content, reference answers and available explanation.
Practise Introduction to Strategic Cost Management with Quill →Introduction to Strategic Cost Management questions and exercises with answers
Showing questions 61–65 of 65.
In value engineering, value is the ratio of what?Read the answer and worked solution →Value engineering began during World War II at which firm?Read the answer and worked solution →A primary tenet of value engineering is that basic what be preserved?Read the answer and worked solution →A value engineering function is stated as an active verb plus what?Read the answer and worked solution →Porter named cost advantage and which other way to win over rivals?Read the answer and worked solution →
Worked practice questions
Value engineering began during World War II at which firm?
- Boeing Company
- General Electric
- Ford Motor Co.
- Toyota Motor
Show answer and solution
Correct answer: B. General Electric
Shortages of labour and materials led General Electric staff to find substitutes, which became value analysis.
A primary tenet of value engineering is that basic what be preserved?
- Costs
- Functions
- Suppliers
- Prices
Show answer and solution
Correct answer: B. Functions
Savings must not reduce the product's basic functions.
How to practise
- Choose a Introduction to Strategic Cost Management question and try to work out your answer.
- Open the question to check the correct answer and read its worked solution.
- Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.