A core concept of lean accounting is that the selling prices of a company's products and/or services are a function of:
A) Product costs.
B) The product or service's value proposition.
C) The degree of competition in the market.
D) The desired or required rate of profit.

Question

Quizplus · Accepted Answer

Lean accounting emphasizes understanding and reducing waste in the production process, focusing on the value provided to the customer rather than just the cost of production. It suggests that selling prices should reflect the value proposition of a product or service to the customer, rather than being primarily based on production costs, competition, or profit targets.

A Core Concept of Lean Accounting Is That the Selling