The following is a list of terms related to managerial accounting practices.1. Activity-based costing.2. Just-in-time inventory.3. Balanced scorecard.4. Value chain.Match each of the terms with the statement below that best describes the term. Terms Description(a) Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion.(b) Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain The group of activities associated with providing a product or performing a service.(c) Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain An approach used to reduce the cost associated with handling and holding inventory by reducing the amount of inventory on hand.(d) Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain A method used to allocate overhead to products based on each product’s use of the activities that cause the incurrence of the overhead cost.

Definition: Managerial accounting: Managerial accounting is a system, or a process of collecting and…

Answered: The following is a list of terms…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 6MCQ: An effective managerial accounting system should track information about an organizations activities...

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The following is a list of terms related to managerial accounting practices.

1.		Activity-based costing.
2.		Just-in-time inventory.
3.		Balanced scorecard.
4.		Value chain.

Match each of the terms with the statement below that best describes the term.

	Terms	Description
(a)	Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain	A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion.
(b)	Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain	The group of activities associated with providing a product or performing a service.
(c)	Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain	An approach used to reduce the cost associated with handling and holding inventory by reducing the amount of inventory on hand.
(d)	Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain	A method used to allocate overhead to products based on each product’s use of the activities that cause the incurrence of the overhead cost.

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