Select the Term from the List Provided That Best Matches

Select the term from the list provided that best matches each of the following descriptions. The first is done for you. $\begin{array}{|c|l|l|}\hline \text { Answer } & \text { Description } & \text { List of terms } \\\hline 4 & \begin{array}{l}\text { A. An inventory flow system that minimizes the amount of } \\\text { inventory on hand }\end{array} & 1 \text {. Continuous improvement } \\\hline & \begin{array}{l}\text { B. The organization established by the accounting profession } \\\text { to develop accounting standards }\end{array} & \text { 2. Cost of goods sold } \\\hline & \begin{array}{l}\text { C. The area of accounting designed to meet information } \\\text { needs of internal users }\end{array} & \begin{array}{l}\text { 3. Financial Accounting } \\\text { Standards Board }\end{array} \\\hline & \begin{array}{l}\text { D. The government agency authorized to establish and } \\\text { regulate public company reporting practices }\end{array} & \text { 4. Just in time } \\\hline & \begin{array}{l}\text { E. Assessing the value chain to create new value-added } \\\text { activities }\end{array} & \text { 5. Managenal accounting } \\\hline & \begin{array}{l}\text { F. Tasks that do not contribute to a product's abulity to satisfy } \\\text { customer needs }\end{array} & 6 \text {. Nonvalue-added activities } \\\hline & \text { G. Costs incurred before the manufacturing process begins } & 7 \text {. Re-enganeening } \\\hline & \begin{array}{l}\text { H. The process of changing an or garization's production and } \\\text { delivery systems to make the organization more competitive }\end{array} & \text {. Upstream costs } \\\hline & \begin{array}{l}\text { I. The ongoung process through whach employees become } \\\text { more effective and leam to work more efficiently }\end{array} & \begin{array}{l}\text { 9. Secunties and Exchange } \\\text { Commission }\end{array} \\\hline & \begin{array}{l}\text { f. The term used for the amount of product costs expensed in } \\\text { the current period }\end{array} & \begin{array}{l}\text { 10. Activity-based } \\\text { management }\end{array} \\\hline\end{array}$

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