Activity-Based Costing: Activity-based costing is the method to analyze the each activity according to the specified costs. The cost of the activity is defined on the basis of the products and services are consumed by them. Just-in-time Inventory: The innovation that reduced the cost of inventory very effectively, just-in-time inventory system is based on the concept to buy or manufacture the goods just at time of sale. Balanced Scorecard Approach: The trade-off between innovations and cost effectiveness is called balanced scorecard approach. Sometimes managers focus too much on innovations that result in extra costs or wastes of business funds. So to avoid that situation the balanced scorecard approached is implemented. Value Chain: Set of steps that business organization considers to hand over the finished product to individual customer is called as value chain analysis. To Identify: The option, best suitable to the description.

Question

Want to see the full answer?

Answer 1

Question

Chapter 19, Problem 19.18E

To determine

Activity-Based Costing: Activity-based costing is the method to analyze the each activity according to the specified costs. The cost of the activity is defined on the basis of the products and services are consumed by them.

Just-in-time Inventory: The innovation that reduced the cost of inventory very effectively, just-in-time inventory system is based on the concept to buy or manufacture the goods just at time of sale.

Balanced Scorecard Approach: The trade-off between innovations and cost effectiveness is called balanced scorecard approach. Sometimes managers focus too much on innovations that result in extra costs or wastes of business funds. So to avoid that situation the balanced scorecard approached is implemented.

Value Chain: Set of steps that business organization considers to hand over the finished product to individual customer is called as value chain analysis.

To Identify: The option, best suitable to the description.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

What is the return on assets on this general accounting question?

Richard has the following potential liabilities: William, a former employee, has sued Richard for $880,000. Richard contacted his attorney, and the case is believed to be frivolous. Carter sued Richard for an undisclosed amount for a class action lawsuit. Richard thinks it's frivolous, but his attorneys indicate a loss is probable for $88,000. Charles sued Richard because he slipped outside of Richard's store. The claim is $264,000 and Richard is certain he will lose the case but believes Charles will settle. The attorneys agree and based on conversations with Charles's attorneys, have stated that it is remote the claim will be settled for $255,200. Charles's attorneys indicated he would be willing to accept either cash of $242,000 or shares of Richard's closely-held common stock currently valued at $233,200. Richard would prefer not to settle in cash. Richard is suing William for $264,000 because William is in violation of a non-compete agreement he has with Richard. Richard is…

Need answer the financial accounting question not use ai