The ________ Created by Porter States That Firms Should Create

question 21

Multiple Choice

The ________ created by Porter states that firms should create new, more efficient business processes that integrate the activities of all departments involved in a value chain.

• A)Six Sigma methodology
• B)product differentiation model
• C)Lean Manufacturing method
• D)business process design

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Definitions:

Credit Balance

A situation in a financial account where the amount of money deposited exceeds the money withdrawn, or in accounting, when credits exceed debits in an account.

Credit Sales

Transactions in which goods or services are provided to a customer with an agreement to pay later.

Bad Debt Expense

An expense account reflecting the cost of accounts receivable that a company does not expect to collect and has written off.

Allowance Method

An accounting technique used to estimate uncollectible accounts receivable and record bad debts expense.