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Good luck! click SUBMIT at the end of your test for your answers to be submitted. If your log out or your computer shuts down without clicking submit, you will lose your - The test has 23 questions designed as follows, and you are strongly recommended to manage your time carefully for each question: Questions 1 and 2: drop-down and matching questions (20 marks) - suggested time for these questions is maximum 10 minutes Questions 3: Essay type question (20 marks) - suggested time for this question is maximum 20 minutes Questions 4 to 23: Multiple choice questions (60 marks)- there are 20MCQ's here and the suggested time for these questions is maximum 60 minutes The module team Question 2 Complete the following sentences by matching the definitions with the correct terms: square is an approach to control costs by trying continually to make cost savings from one time period to the next during the manufacturing and production stage of the product life cycle. square is a technique for relating overheads to specific production or provision of a service based on the fact that overheads do not just occur but are caused by activities (cost drivers). square a strategic management tool that integrates financial and non-financial measures of performance in a single concise report for the purpose of incorporating performance management within the strategic management process. square v is the provision and analysis of management accounting data about a business and its competitors for the purpose of developing and monitoring the business strategies. square is the costing technique that relates to reporting all the costs that will be incurred during ng the entire life of a product or service. 10 pts

Question

Good luck!
click SUBMIT at the end of your test for your answers to be submitted. If your log out or your computer shuts down without clicking submit, you will lose your
- The test has 23 questions designed as follows, and you are strongly recommended to manage your time carefully for each question:
Questions 1 and 2: drop-down and matching questions (20 marks) - suggested time for these questions is maximum 10 minutes
Questions 3: Essay type question (20 marks) - suggested time for this question is maximum 20 minutes
Questions 4 to 23: Multiple choice questions (60 marks)- there are 20MCQ's here and the suggested time for these questions is maximum 60 minutes
The module team
Question 2
Complete the following sentences by matching the definitions with the correct terms:
square 
is an approach to control costs by trying continually to make cost savings from one time period to the next during the
manufacturing and production stage of the product life cycle.
square  is a technique for relating overheads to specific production or provision of a service based on the fact that overheads do
not just occur but are caused by activities (cost drivers).
square  a strategic management tool that integrates financial and non-financial measures of performance in a single concise
report for the purpose of incorporating performance management within the strategic management process.
square  v is the provision and analysis of management accounting data about a business and its competitors for the purpose of
developing and monitoring the business strategies.
square  is the costing technique that relates to reporting all the costs that will be incurred during ng the entire life of a product or
service.
10 pts

Good luck! click SUBMIT at the end of your test for your answers to be submitted. If your log out or your computer shuts down without clicking submit, you will lose your - The test has 23 questions designed as follows, and you are strongly recommended to manage your time carefully for each question: Questions 1 and 2: drop-down and matching questions (20 marks) - suggested time for these questions is maximum 10 minutes Questions 3: Essay type question (20 marks) - suggested time for this question is maximum 20 minutes Questions 4 to 23: Multiple choice questions (60 marks)- there are 20MCQ's here and the suggested time for these questions is maximum 60 minutes The module team Question 2 Complete the following sentences by matching the definitions with the correct terms: square is an approach to control costs by trying continually to make cost savings from one time period to the next during the manufacturing and production stage of the product life cycle. square is a technique for relating overheads to specific production or provision of a service based on the fact that overheads do not just occur but are caused by activities (cost drivers). square a strategic management tool that integrates financial and non-financial measures of performance in a single concise report for the purpose of incorporating performance management within the strategic management process. square v is the provision and analysis of management accounting data about a business and its competitors for the purpose of developing and monitoring the business strategies. square is the costing technique that relates to reporting all the costs that will be incurred during ng the entire life of a product or service. 10 pts

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AmbroseProfessional · Tutor for 6 years

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1. Continuous cost reduction is an approach to control costs by trying continually to make cost savings from one time period to the next during the manufacturing and production stage of the product life cycle. <br />2. Activity-based costing (ABC) is a technique for relating overheads to specific production based on the fact that overheads are caused by activities.<br />3. Balanced Scorecard (BSC) is a strategic management tool that integrates financial and non-financial measures of performance in a single concise report for the purpose of incorporating performance management within the strategic management process.<br />4. Strategic management accounting (SMA) is the provision and analysis of management accounting data about a business and its competitors for the purpose of developing and monitoring the business strategies. <br />5. Life-cycle cost (LCC) is the costing technique that relates to reporting all the costs that will be incurred during the entire life of a product or service.

Explain

## Step1: <br />The education universe of management accounting presents these definitions frequently. Understanding what these textbook definitions mean and associate them with real-world situations is one crucial quality which management accounting students should nurture.<br /><br />1. **Continuous cost reduction**: 'An approach to control costs by trying continually to make cost savings from one time period to the next during the manufacturing and production stage of the product life cycle.<br />2. **Activity-based costing (ABC)**: Is 'A technique for relating overheads to specific production or provision of a service based on the fact that overheads do not just occur but are caused by activities (cost drivers)'.<br />3. **Balanced Scorecard (BSC)**: As 'A strategic management tool that integrates financial and non-financial measures of performance in a single concise report for the purpose of incorporating performance management within the strategic management process'.<br />4. **Strategic management accounting (SMA)**: Sn as 'The provision and analysis of management accounting data about a business and its competitors for the purpose of developing and monitoring the business strategies' and <br />5. **Life-cycle cost (LCC)**: Is 'The costing technique that relates to reporting all the costs that will be incurred during the entire life of a product or service.<br /><br />## Step2: <br />Plug in all these terms in the appropriate sentences to complete it. <br /><br />## Step3: <br />Cross-verify the sentences to ensure the terms and their defined context match.
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