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.

Instructions

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

(a) ____ A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion.

(b) ____ The group of activities associated with providing a product or service.

(c) ____ An approach used to reduce the cost associated with handling and holding inventory by reducing the amount of inventory on hand.

(d) ____ 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.