Value Stream Mapping

question 9

Multiple Choice

Value stream mapping:

• A)Is a simplified version of process mapping.
• B)Uses the same terminology and symbols used in typical process mapping.
• C)Is another name for a future state map.
• D)Relies on computer-assisted flowcharting.
• E)Is more comprehensive than typical process mapping.

---

Definitions:

FIFO

An accounting method for asset management and valuation where the first items acquired are the first ones sold or used.

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Fixed Asset Turnover Ratio

A financial metric that measures a company's efficiency in generating sales from its fixed assets, calculated by dividing net sales by the average net fixed assets.

Financial Statements

Records that provide an overview of a company's financial condition in both short and long term, including the balance sheet, income statement, and cash flow statement.