Requiring Separation of Duties in a Business Allows the Work

question 100

True/False

Requiring separation of duties in a business allows the work of one employee to serve as a check on the work of other employees.

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Definitions:

Non-value-added

Activities or processes that do not add value to the product or service from the customer's perspective, leading to unnecessary costs or inefficiencies.

Target Cost

A cost-management strategy in which a product’s selling price and desired profit are used to determine the allowable cost to manufacture it, with the aim of ensuring competitiveness and profitability.

Cost Driver Analysis

The examination of the factors that affect costs, aiming to understand the relationship between actions or volumes and their impact on expenses.

Non-value-added Activities

Tasks or processes that do not contribute to customer value or enhance a product, potentially leading to unnecessary costs.