Just In Time:
Just in time inventory means to order the inventory as they are needed in the production, it increases the efficiency of the business.
Continuous Improvement:
Continuous improvement refers to the improvement that takes place in the operations of the business.
Customer Orientation:
Customer orientation refers to the production of customized products as per the customer requirements.
Total Quality Management:
Total quality management refers to quality checks of each product while producing or manufacturing a product, it helps in producing good quality products.
Triple Bottom Line:
Triple bottom line refers to the three aspects that are financial, environment and social. Triple bottom line is also called as corporate social responsibility
To match: The following statements.
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Financial and Managerial Accounting
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- Expert need your helparrow_forwardIf a company purchases equipment costing $4,700 on credit, the effect on the accounting equation would be: a. Assets increase $4,700 and liabilities decrease $4,700. b. Equity decrease $4,700 and liabilities increase $4,700. c. One asset increase $4,700 and another asset decrease $4,700. d. Assets increase $4,700 and liabilities increase $4,700. e. Equity increase $4,700 and is liabilities decrease $4,700.arrow_forwardA company sells the following items: 1-Sep. Beginning balance 18 units @ 13 12-Sep. Purchase 30 Units @ 14 19-Sep. Sold 24 units @ 30 20-Sep. Purchased 24 units @ 17 27-Sep. Sold 27 units @ 30 What is the ending balance of inventory and the cost of goods sold using FIFO and LIFO?arrow_forward
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