Question
Which of the following is not a principle of Kaizen Costing?
Solution
Kaizen, means continual improvement. Kaizen Costing Principles o  The system seeks gradual improvements in the existing situation, at an acceptable cost. o  It encourages collective decision making and application of knowledge. o  There are nolimits tothe level ofimprovements that can be implemented o  Kaizen involves setting standards and then continually improving these standards to achieve long-term sustainable improvements. o  The focus is on eliminating waste, improving systems, and improving productivity. o  Involves all employees (and not just unskilled employees) and all areas of the business
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