Complete the Following Using the Terms Listed

question 42

Multiple Choice

Complete the following using the terms listed.
-Proponents of _____ allow employees to view sensitive financial information so that they better understand how their work contributes to the company's success.

• A)certified public accountant
• B)International Financial Reporting Standards
• C)asset
• D)liability
• E)Owners' equity
• F)accounting equation
• G)balance sheet
• H)income statement
• I)Sarbanes-Oxley Act (SOX)
• J)accrual accounting
• K)open book management
• L)budget
• M)generally accepted accounting principles (GAAP)
• N)Financial Accounting Standards Board (FASB)
• O)profitability ratios
• P)International Accounting Standards Committee (IASC)
• Q)Leverage ratios
• R)management accountant

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Definitions:

Discontinued Inventory

Stock items that are no longer being produced or supplied by the manufacturer.

Supply Chain

The network of all activities, individuals, resources, and technology involved in the creation and sale of a product, from raw materials to delivery to the end user.

Warehousing

The act of storing goods in a large building or warehouse for distribution, sale, or future use.

Maintenance Scheduling

The process of planning and organizing maintenance activities to ensure optimal operation of equipment and minimize downtime.