Match the Following Terms to the Appropriate Definitions

question 32

Multiple Choice

Match the following terms to the appropriate definitions.

-Goods a company acquires to use in making products.

• A)Managerial accounting
• B)Continuous improvement
• C)Raw materials inventory
• D)Customer orientation
• E)Just-in-time manufacturing
• F)Goods in process inventory
• G)Lean business model
• H)Balanced scorecard
• I)Prime costs
• J)Raw materials inventory turnover

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Definitions:

Correlation Coefficient

A statistical measure that calculates the strength and direction of a linear relationship between two variables.

Inverse Correlation

A relationship between two variables in which they move in opposite directions; as one variable increases, the other decreases.

Independent Variable

A variable that is manipulated in an experiment to observe its effect on the dependent variable.

Dependent Variable

In scientific research, the outcome factor that researchers measure to examine the impact of variations in the independent variable.