An approach to accounting that aims to eliminate all sources of organisational waste from the value chain is known as:
A) just-in-time
B) strategic management
C) lean accounting
D) value chain management

Question

Quizplus · Accepted Answer

The approach that aims to eliminate all sources of organisational waste from the value chain is known as lean accounting, which is a method of accounting that focuses on the identification and elimination of all non-value-adding activities in the production process. Just-in-time and value chain management are related to lean accounting, but they are not the specific approach that focuses on eliminating waste. Strategic management is a broader concept that involves the formulation and implementation of strategies to achieve organisational objectives.

An Approach to Accounting That Aims to Eliminate All Sources