BOM File Is Often Called a Product Structure File or Product

question 21

True/False

BOM file is often called a product structure file or product tree because it shows how a product is put together.

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Definitions:

GAAP

Generally Accepted Accounting Principles, a standard framework of guidelines for financial accounting used in any jurisdiction, particularly in the United States.

Quality Control

The processes and procedures put in place to ensure that products or services meet defined quality standards.

Environmental Pollution

The contamination of the natural environment due to harmful substances or actions, causing adverse effects on living organisms and ecosystems.

Product Cost Elements

The costs directly associated with producing a product, typically including direct materials, direct labor, and manufacturing overhead.