Select the appropriate definition for each of the items listed below.
-The set of activities required to design, develop, produce, market, and deliver products and services to customers
A)Financial accounting
B)Managerial accounting
C)Planning
D)Controlling
E)Decision making
F)Value chain
G)Continuous improvement
H)Line positions
I)Time
J)Total quality management
K)Lean accounting
L)Staff positions
M)Controller
N)Treasurer
O)Ethical behaviour

Question

Quizplus · Accepted Answer

The definition given corresponds to the concept of the value chain, which refers to the sequence of activities necessary to design, produce, market, deliver and support a product or service.

Answer: J
 The definition given corresponds to the philosophy of total quality management, which is a management approach that seeks to optimize quality and customer satisfaction by involving all employees and functions in continuous improvement efforts.

Answer: M
 The term "Controller" refers to the financial executive who is responsible for the accounting, financial reporting, and budgeting functions of an organization.

Answer: N
 The term "Treasurer" refers to the financial executive who is responsible for managing the organization's cash, investments, and other financial assets.

Answer: O
 The term "Ethical behavior" refers to behavior that is in accordance with accepted moral principles and values that guide the decision-making and conduct of individuals and organizations. However, this is not an accurate definition of the set of activities required to design, develop, produce, market, and deliver products and services to customers.

Select the Appropriate Definition for Each of the Items Listed