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When studying the Big Five personality characteristics, you remember the word OCEAN. Each personality characteristic begins with a letter from this word. The memory strategy you are using is called:
Order-Level Costs
Expenses directly related to a specific order, including purchasing, handling, and setup costs.
Suppliers
Businesses or individuals that provide goods or services to another entity under terms specified in a contract or agreement.
Backflush Costing
A streamlined cost accounting method that assigns costs to products after they are produced, based on the finished goods output.
Just-In-Time (JIT)
An inventory management system where materials are produced or received only as necessary to meet demand, reducing waste and costs.
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