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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).

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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).
Transcribed Image Text: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).
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