Large Cost Savings from Reduced Inventories and Labour Savings by Needing

question 120

True/False

Large cost savings from reduced inventories and labour savings by needing fewer workers to handle inventory can be driving forces associated with the implementation of just-in-time inventory control systems.

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Definitions:

Special Journals

Special journals are accounting tools used to record specific types of transactions in a more efficient manner, such as sales, purchases, cash receipts, and disbursements.

Monthly

Pertaining to or occurring once every month.

Daily

Daily refers to something done, occurring, or measured every day or each business day.

Inventory Column

A column in financial spreadsheets or ledgers that records the quantities and values of products a company has in stock.