Differentiate Between Value-Creation Processes and Support Processes

question 21

Essay

Differentiate between value-creation processes and support processes.

---

Definitions:

Petty Cash Fund

A small amount of cash on hand used for paying minor expenses, managed through a system of replenishment.

Misc. Expense

Miscellaneous Expenses, generally small or irregular costs that don't fit into other categories of a company's financial statements.

Petty Cash Fund

A small amount of cash kept on hand for minor, incidental expenses.

Replenishment

The process of replenishing inventory or stock to ensure that the optimal inventory level is maintained.