A JIT System

question 13

Multiple Choice

A JIT system

• A)increases inventory turnover.
• B)reduces inventory holding costs.
• C)decreases total labor costs.
• D)increases buffer stock of inventory.

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Definitions:

Decimal Place

A position of digit within a number after the decimal point, used to signify fractions of a whole.

Percentage Change

Percentage change measures the degree of change over time, calculated as the difference between two values divided by the original value, multiplied by 100.

Financial Statements

Written records that convey the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Year Period

Year period refers to a span of 12 months used for financial, reporting, or operational purposes, typically starting on January 1st and ending on December 31st.