After Net Income or Loss Is Entered on the End-Of-Period

question 82

True/False

After Net Income or Loss is entered on the end-of-period spreadsheet, the debit column total must equal the credit column total for the Balance Sheet pair of columns.

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Definitions:

Non-value-added

Activities or processes that do not add value to the product or service from the customer's perspective, leading to unnecessary costs or inefficiencies.

Target Cost

A cost-management strategy in which a product’s selling price and desired profit are used to determine the allowable cost to manufacture it, with the aim of ensuring competitiveness and profitability.

Cost Driver Analysis

The examination of the factors that affect costs, aiming to understand the relationship between actions or volumes and their impact on expenses.

Non-value-added Activities

Tasks or processes that do not contribute to customer value or enhance a product, potentially leading to unnecessary costs.