Goods Are Considered to Be in Transit When They Are

question 39

Multiple Choice

Goods are considered to be in transit when they are in possession of ________.

• A) sellers
• B) buyers
• C) lessors
• D) carriers

Recompute standard times with adjusted allowances to understand the impact of changing allowance values.

Understand the relationship between observed times, performance ratings, and allowances in determining standard times.

Analyze changes to time measurements based on modifications to activity descriptions or conditions.

Apply statistics to ensure confidence in standard time calculations based on observed times and standard deviations.

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Definitions:

Medigap

Private insurance that Medicare recipients can purchase to reduce the gap in coverage—the amount they would have to pay from their own pockets after receiving Medicare benefits.

Relative Value

A measure of the worth of something in comparison to the price, quantity, or value of another item or measure.

Prepayment

The act of paying for goods, services, or expenses in advance before receiving or using them.

Capitation

A payment structure in which a health maintenance organization pre-pays an annual set fee per patient to a physician.