Describe the concept of kaizen budgeting. What will be an ...

[jilianpiloj]

Describe the concept of kaizen budgeting.
 
  What will be an ideal response?

Question 2

Transactions must first be recorded into the general journal before they can be entered into specialized journals.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[essyface1]

Answer to Question 1

Answer: Kaizen budgeting explicitly incorporates continuous improvement in cost reduction anticipated during the budget period. Much of the cost reduction arises from many small improvements rather than large one time improvements. Most of the improvements come from employee suggestions. Companies that employ kaizen budgeting create a culture where employee suggestions are valued, recognized, and rewarded.

Answer to Question 2

False

[jilianpiloj]

Thanks for the timely response, appreciate it

[patma1981]

Excellent