Which One the Following Is Not a Guiding Principle of Lean

question 1

Multiple Choice

Which one the following is not a guiding principle of lean philosophy?

• A) Satisfy the needs of customers by doing only value-added activities.
• B) Be flexible in response to customer demands.
• C) Define the value stream by flowcharting the process.
• D) Eliminate waste.

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Definitions:

Accounting Errors

Mistakes made in recording financial transactions or preparing financial statements.

Insurance Expense

It refers to the cost attributed to purchasing insurance policies for a business, which is typically considered an operational expense.

Insurance Policy

A legal contract between an insurer and the insured, where the insurer agrees to compensate the insured for specific losses in exchange for a premium.

Adjusting Entry

An accounting record entry made at the close of an accounting period for the purpose of attributing costs and revenues to their appropriate periods.