A Good Example of a Useful Policy to Minimize Waste

question 68

Multiple Choice

A good example of a useful policy to minimize waste and mistake is ____.

• A) avoid tight control over critical tables
• B) system report titles should be as brief as possible and simply indicate the report number
• C) users should implement proper procedures to ensure correct input data
• D) all of the above

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Definitions:

Differential Analysis

A method used in both financial and managerial accounting that focuses on the differences in costs and revenues between two or more business decisions.

Depreciated

The decrease in the value of an asset over time due to wear and tear, obsolescence, or other factors, reflected in accounting through depreciation.

Sales Commission

A sum paid to salespersons, often calculated as a fixed percentage of the sales they generate.

Product Cost Method

A method of accounting for costs that are directly associated with the production of goods, including direct materials, direct labor, and factory overhead.