The following is a list of terms related to managerial accounting practices.
- Activity-based costing.
- Just-in-time inventory.
- Balanced scorecard.
- 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 overhead to products based on each product”s use of the activities that cause the incurrence of the overhead cost.