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19 February, 10:54

7. The major cost management concept used in kaizen budgeting is that of a. eliminating inventories of every type but materials. b. refinements in the indirect-cost categories for costing systems. c. continuous improvement. d. sensitivity analysis using computer-based financial planning models.

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  1. 19 February, 11:02
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    The correct option is C, continuous improvement.

    Explanation:

    Kaizen budgeting which is an offshoot of Kaizen costing approach, is a method of budgeting which seeks to continuously seek improvements to processes in order that cost reductions can be achieved on an ongoing basis within the budgetary system.

    A manager is expected to analyse its departmental's processes anytime the opportunity presents itself, hence, bench-marking processes with best-in-class internally or externally, can be very useful in ensuring continuous improvement is achieved.
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