The following is a list of terms related to
1. Activity-based costing.
2. Just-in-time inventory.
3. Balanced scorecard.
4. Value chain.
Instructions
Match each of the terms with the statement below that best describes the term.
(a) _____ A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion.
(b) _____ The group of activities associated with providing .a product or performing .a service.
(c) _____ An approach used to reduce the cost associated with handling and holding inventory by reducing the amount of inventory on hand.
(d) _____ A method used to allocate
Identify various managerial accounting practices.
(LO 4), C
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Managerial Accounting: Tools for Business Decision Making
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- The two dimensions of managerial accounting are:a. decision-facilitating and decision-influencingb. decision-facilitating and financial-influencingc. decision-influencing and profit-maximizingd. cost-minimizing and profit-maximizinge. decision-influencing and cost-minimizingarrow_forwardExplain the difference between FIFO and LIFO methods . Provide example for each method. The subject is Managerial Accounting.arrow_forwardWhich of the following is the principle reason for preparing managerial accounting reports? a.clarity b.usefulness to management c.GAAP d.cost of preparationarrow_forward
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