The following is a list of terms related to managerial accounting practices.
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 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 overhead to products based on each product’s use of the activities that cause the incurrence of the overhead cost.