________ Consists of Practices Participated in by Employees from All

question 48

Multiple Choice

________ consists of practices participated in by employees from all levels of the company that focus on continuous improvement of business processes.

• A)Quality circle
• B)Muda
• C)Kaizen
• D)Root cause analysis
• E)Business process reengineering

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Definitions:

Incurred

Refers to costs that have been realized or expended in association with a specific activity or period.

Manufacturing Costs

The total expenses involved in the manufacture of products, including direct materials, direct labor, and factory overhead.

Inventory Accounts

Accounts used to track the cost of goods that are either manufactured or purchased for resale by a business.

Expense Accounts

Expense accounts are ledger accounts that track the costs incurred by an organization during its operations.