Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as
A. economic accounting
B. back-flush accounting
C. lean accounting
D. lead accounting
Answer: Option C
Solution(By Examveda Team)
Method of costing that supports creation of value for customer by accounting whole value stream, rather than individual departments or products is classified as lean accounting. Lean accounting is a financial management approach that supports the streamlined processes of lean manufacturing.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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