EXTRA CREDIT: Match the descriptions that follow with the corresponding terms. Descriptions: Terms: Inventory system in which goods are manufactured or purchased just as they are needed for sale. A method of allocating overhead based on each product's use of activities in making the product. Systems that are especially important to firms adopting just-in-time inventory methods. Part of the value chain for a manufacturing company. The U.S. economy is trending toward this. A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion. Requires that top managers certify that the company maintains an adequate system of internal controls over financial reporting. Activity-based costing. Balanced scorecard. Total quality management (TQM). Research and development, and product design. Service industries. Just-in-time (JIT) inventory. Sarbanes-Oxley Act (SOX).
EXTRA CREDIT: Match the descriptions that follow with the corresponding terms. Descriptions: Terms: Inventory system in which goods are manufactured or purchased just as they are needed for sale. A method of allocating overhead based on each product's use of activities in making the product. Systems that are especially important to firms adopting just-in-time inventory methods. Part of the value chain for a manufacturing company. The U.S. economy is trending toward this. A performance-measurement approach that uses both financial and nonfinancial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion. Requires that top managers certify that the company maintains an adequate system of internal controls over financial reporting. Activity-based costing. Balanced scorecard. Total quality management (TQM). Research and development, and product design. Service industries. Just-in-time (JIT) inventory. Sarbanes-Oxley Act (SOX).
Chapter1: Accounting As A Tool For Managers
Section: Chapter Questions
Problem 26MC: An inventory system that organizations use to increase efficiency and decrease waste is...
Related questions
Question
not use ai please don't
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning