Kaizen Costing Is

question 19

Multiple Choice

Kaizen costing is

• A)continuous improvement with the objective of cost reduction.
• B)characterized by constant improvements to existing processes and products.
• C)characterized by incremental improvement to existing processes and products.
• D)all of the above.

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Definitions:

Discarded

Items or materials that have been thrown away or deemed as no longer useful or needed.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life to date.

Original Cost

The initial price paid to acquire an asset before any depreciation or amortization.

Net Income

The earnings a company retains following the deduction of all costs and taxes from its overall income.