A Non-Value-Added Cost Is a Cost That, If Eliminated, Would

question 118

True/False

A non-value-added cost is a cost that, if eliminated, would reduce the actual or perceived value or utility (usefulness) customers experience from using the product or service.

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Definitions:

Fiduciary Duty

An obligation under the law for an individual to prioritize another's interest, often involving someone trusted with managing finances or assets.

Special Litigation Committee

A committee often formed within a corporation's board of directors to decide on legal strategies or manage specific litigation matters, especially in derivative lawsuits.

Derivative Suit

A lawsuit brought by a shareholder on behalf of a corporation against a third party, often its officers or directors, for harm done to the corporation.

Interested Directors

Board members who have a personal, financial, or other direct interest in a matter being considered by the board.