Kaizen Refers to Incorporating Cost Reductions

question 74

Multiple Choice

Kaizen refers to incorporating cost reductions:

• A)in each successive budgeting period.
• B)in all customer service centres.
• C)in each successive sales forecast.
• D)All of these answers are correct.

Estimate inventory cost using gross profit method.

Recognize and understand the accounting treatment for goods on consignment.

Calculate and analyze the impact of inventory costs on gross profit rate.

Understand the conservatism constraint in inventory valuation.

---

Definitions:

Repeated Use

The action of using something multiple times, often referring to habits or behaviors that become consistent over time.

Methadone

A medication used in treatment for opioid dependence that can also relieve chronic pain; it helps reduce withdrawal symptoms without the euphoric effects of the abused drug.

Opioid

A class of drugs that includes both legal pain relievers like morphine and illegal drugs like heroin, known for their potent pain-relieving and addictive properties.

Regularly Smoke Cigarettes

The habitual act of smoking tobacco products, specifically cigarettes, on a frequent basis.