A Management Concept That Seeks to Uncover and Eliminate Waste

question 206

Multiple Choice

A management concept that seeks to uncover and eliminate waste in business activities is called:

• A)Continuous operations.
• B)Customer orientation.
• C)Just-in-time.
• D)Theory of constraints.
• E)Lean business model.

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Definitions:

Operating Activities

Transactions and other events that enter into the determination of net income, apart from investing and financing activities.

Cash Flow Statement

The Cash Flow Statement is a financial document that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investments, and all cash outflows that pay for business activities and investments during a given period.

Research and Development

Activities undertaken by a business or organization to innovate and introduce new products or services, or to improve their existing offerings.

Stockholders' Equity

Represents the residual interest in the assets of a corporation after deducting liabilities, effectively the net worth attributable to shareholders.