Match the Following Terms to the Appropriate Definitions

question 40

Essay

Match the following terms to the appropriate definitions.
__________ (1) Managerial accounting
__________ (2) Continuous improvement
__________ (3) Raw materials inventory
__________ (4) Customer orientation
__________ (5) Just-in-time manufacturing
__________ (6) Goods in process inventory
__________ (7) Lean business model
__________ (8) Balanced scorecard
__________ (9) Prime costs
__________(10)Raw Materials Inventory Turnover
(a) An idea that rejects the notions of "good enough" and "acceptable" and challenges employees and managers to continually experiment with new and improved business practices.
(b) Goods a company acquires to use in making products.
(c) The ratio which computes how many times a company turns over its raw materials inventory in a period.
(d) A system that acquires inventory and produces only when needed.
(e) An approach that aids continuous improvement by augmenting financial measures with information on the drivers or indicators of future financial performance along the four dimensions of (1)financial; (2)customer; (3)internal business processes; (4)learning and growth.
(f) Expenditures directly associated with the manufacture of finished goods; includes direct materials and direct labor.
(g) An idea that means that employees understand the changing needs and wants of their customers and align their management and operating practices accordingly.
(h) Products in the process of being manufactured but not yet complete.
(i) A model whose goal is to eliminate waste while satisfying the customer and providing a positive return to the company.
(j) An activity that provides financial and nonfinancial information to an organization's managers and other internal decision makers.

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Definitions:

Pinocytic Vesicles

Small, fluid-filled sacs within the cell that are involved in the process of pinocytosis, allowing for the intake of liquid and dissolved substances.

Transport

The act of moving people or goods from one location to another via vehicles, containers, or by other means.

Cell Membrane

The semipermeable membrane surrounding the cytoplasm of a cell, controlling the movement of substances in and out.

Cytoplasm

The jelly-like material within a cell, excluding the nucleus, where various cellular processes occur, including enzyme reactions and nutrient processing.