In Order to Eliminate Waste,companies Must Adopt and Implement One

question 5

Multiple Choice

In order to eliminate waste,companies must adopt and implement one or more management practices that focus on different aspects of the lean business model such as:

• A) Just-in-Time.
• B) maintaining inventories large enough to shield against all unanticipated disruptions.
• C) Activity-Based Costing.
• D) multi-dimensional performance measurement systems.

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Definitions:

Net Income

The final amount a company earns after removing all outgoings and tax liabilities from its total income.

Indirect Method

A way of preparing a cash flow statement where net income is adjusted for changes in balance sheet accounts to reflect cash transactions.

Sale Of Fixed Assets

The process of selling long-term assets such as property, plant, and equipment for cash or other compensation.

Operating Activities

Business functions related to the core operations of a company, generating the majority of its revenue and expenses.