Product Value Analysis (PVA)attempts to Reduce Costs by Studying Components

question 80

True/False

Product value analysis (PVA)attempts to reduce costs by studying components to see if they can be redesigned,standardized,or produced more cheaply.

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure accuracy in the financial statements.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

General Ledger

The master accounting document that contains all the financial accounts and transactions of a company.

Unadjusted Trial Balance

A preliminary list of all accounts and their balances before any adjustments are made, used to check the accuracy of debits and credits in accounting records.