Examlex
What is the essential difference between an invention and an innovation?
Just-In-Time
An inventory management strategy where materials and goods are produced or acquired only as needed in the production process, aiming to reduce waste.
Activity-Based Costing
A costing method that assigns manufacturing overhead and indirect costs to products and services based on their use of activities.
Process Cost Systems
A method of accounting used in manufacturing where costs are assigned to products, usually in continuous, repetitive operations.
Process Cost Accounting
A method of accounting that accumulates production costs for each process or department within a manufacturing facility.
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