The 'Lean' Accounting Principle Is

question 5

Multiple Choice

The 'lean' accounting principle is:

• A) just in time inventory management
• B) cost volume profit
• C) capital budgeting
• D) all are lean accounting principles

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Definitions:

Empowerment Gap

The difference between what customers expect in terms of control and influence over a service, and what they perceive they actually receive.

Important Customer

A customer considered valuable to a business due to factors like frequent purchases, high order value, or strategic significance, warranting special attention or service.

Product vs. Service

A comparison between tangible items (products) and intangible activities (services) offered in the market.

Chicken

A type of poultry and common domesticated fowl, widely consumed as meat and eggs across the globe.