A Management Concept That Seeks to Uncover and Eliminate Waste

question 20

Multiple Choice

A management concept that seeks to uncover and eliminate waste in all aspects of business activities is called:

• A) Just-in-time.
• B) Theory of constraints.
• C) Continuous operations.
• D) Lean business model.
• E) Customer orientation.

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Definitions:

Units-Of-Activity

A depreciation method where the expense is based on the actual usage or activity of the asset rather than the passage of time.

Production Based

A method or approach that focuses on enhancing the efficiency and output of the manufacturing process, often measured against set production targets.

Straight-Line

A method of allocating the cost of an asset evenly over its useful life for the purposes of depreciation or amortization.

Declining-Balance

A method of depreciation where an asset loses value at a rate that decreases over time, opposite of straight-line depreciation.