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#11 (Chapter 10 PowerPoint - managerial accounting terminology): Which of the following statements is FALSE? A. Under a just-in-time (JIT) inventory management system, the company
#11 (Chapter 10 PowerPoint - managerial accounting terminology): Which of the following statements is FALSE? A. Under a just-in-time (JIT) inventory management system, the company does not stockpile raw materials (RMS) and instead waits to order RMs from suppliers to coincide with production schedules. B. The Theory of Constraints is a process improvement methodology that emphasizes the importance of identifying the "constraint" or bottleneck (such as the slowest step in our production process). C. Traditional costing is high-level; overhead for the entire business operation is allocated using just one standard rate. Meanwhile, activity-based costing (ABC) is more detailed/granular; it uses multiple cost pools and therefore results in more accurate product costing. D. The balanced scorecard is limited to financial key performance indicators (KPIs) only; non-financial metrics must be excluded
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