The Architecture of a Product or Service

question 22

Multiple Choice

The architecture of a product or service

• A) refers to product portfolio
• B) is what is sold to customers
• C) defines its key parts and how those parts are connected
• D) refers to product features

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Definitions:

FIFO Method

An accounting method where the first items added to inventory are the first ones considered sold.

Equivalent Unit

A concept used in cost accounting to convert partially completed units into a number of fully completed units.

Mixing Department

A specialized production department where raw materials are combined or mixed to create a product or substance.

FIFO Method

First-In, First-Out method; an inventory valuation method where goods first purchased or produced are the first to be sold, used in accounting to calculate the cost of goods sold and ending inventory.