acc497 wk3 e-18

E1‑18

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.

Identify various managerial accounting practices.

(SO 8)

Instructions

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

1. ____ A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion.
2. ____ The group of activities associated with providing a product or service.
3. ____ An approach used to reduce the cost associated with handling and holding inventory by reducing the amount of inventory on hand.
4. ____ 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.