A Practice Associated with Lean Accounting Is

question 13

Multiple Choice

A practice associated with lean accounting is:

• A) Producing to forecast
• B) Vertical reporting
• C) Accounting information provided to managers and supervisors only
• D) Producing in teams

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Definitions:

Total Variable Cost

The sum of all costs that vary directly with the level of production, including materials and labor.

Planning Budget

A budget created for a specific level of activity, usually projected at the beginning of a planning period as a guide for income, spending, and capital investment decisions.

Personnel Expenses

Costs incurred by a business related to employing staff, including wages, benefits, training, and other related expenses.

Client-Visits

The number of times clients or customers visit a business or service provider within a given time period.