Which of the Following Statements Is True of Lean Accounting

question 92

Multiple Choice

Which of the following statements is true of lean accounting?

• A) It is much complex than traditional product costing but produces more accurate product unit costs.
• B) It does not always compute costs for individual products but does emphasize product costs by value stream.
• C) It omits recording some of the journal entries relating to the stages from the purchase of direct materials to the sale of finished goods.
• D) It is acceptable under GAAP.

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Definitions:

Organizational Rewards And Punishments

Systems within an organization designed to recognize, reward, or penalize employees' behaviors and performances.

Cross-Functional Teams

Teams composed of members from different departments or functional areas within an organization, working towards a common goal.

Time And Place Limitations

Constraints related to when and where an activity or event can occur.

Teamwork

The cooperative effort of a group of people working towards a common goal.