_______________ Refers to the Performance of a Process in a New

question 11

Multiple Choice

_______________ refers to the performance of a process in a new way to achieve major improvements.

• A) Process improvement
• B) Process innovation
• C) Process creation
• D) Process efficiency

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Definitions:

Sales Returns And Allowances

Sales returns and allowances account for the reduction in sales revenues due to returned or defective products allowed by a company to its customers.

Sales Discounts

Reductions in the price of goods or services offered to customers, typically in exchange for early payment.

Expense Accounts

Accounts used to track the costs incurred in a business's operational activities, not directly tied to the production of goods or services.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding costs directly associated with the production of goods or services.