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.


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.