The Basic Objective for Operating with Low Inventories in JIT

question 2

Multiple Choice

The basic objective for operating with low inventories in JIT systems is:

• A)to uncover recurring problems in production processes.
• B)inventory investment must be saved.
• C)major problems must be uncovered.
• D)major problems must have been solved.
• E)inventories must be reduced rapidly.

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Definitions:

Tax Form

A document used to report financial information to a governmental body for the purposes of tax calculation and compliance.

IRS

Internal Revenue Service, the federal agency responsible for administering and enforcing tax laws in the United States.

Form 1040 Schedule C

A tax form used in the United States for reporting income or loss from a business operated as a sole proprietorship.

Company's Accounts

The various financial records and statements that reflect a company's economic transactions, assets, liabilities, and equity.