1. Match the descriptions that follow with the corresponding terms.
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Descriptions: 1. _______ All activities associated with providing a product or service. 2. _______ A method of allocating overhead based on each product’s use of activities in making the product. 3._______ Systems implemented to reduce defects in finished products with the goal of achieving zero defects. 4._______ 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. 5._______ Inventory system in which goods are manufactured or purchased just as they are needed for use. |
Terms: a. Activity based costing b. Balanced scorecard c. Just in time (JIT) inventory d. Total quality management (TQM) e. Value chain |