Which One of the Following Is an Example of JIT

question 112

Multiple Choice

Which one of the following is an example of JIT being used for competitive advantage?

• A) Jones Company has decreased the number of job classifications to just a few.
• B) Lafourche Metals increases the number of its suppliers to be less dependent on just a few.
• C) Houma Fabricators is proud to announce that incoming goods are inspected.
• D) Acme Company tells its maintenance department to intervene only if a machine breaks down.
• E) Caro Specialty Metals, Inc. has built a new, huge warehouse to store inventory.

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Definitions:

Property Rights

Legal rights to use, control, and dispose of land and property.

Legal Entity

An organization or structure that has legal rights and obligations, such as a corporation, partnership, or trust.

Doctrine of Marshaling Assets

A principle in equity that gives a junior creditor the right to request that senior creditors satisfy their claims from assets not pledged by the junior creditor, when possible.

Interest in the Partnership

Refers to a partner’s share or stake in both the assets and profits (or losses) of a partnership, often governed by a partnership agreement.