Seven Cycles Creates ________ in Its Creation of Customized Bikes

question 174

Multiple Choice

Seven Cycles creates ________ in its creation of customized bikes for its customers in 40 countries.

• A) time utility
• B) form utility
• C) place utility
• D) possession utility
• E) possession and place utility

---

Definitions:

Work in Process Inventory

Work in process inventory consists of items currently being manufactured but not yet complete.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor involved in creating the product.

Lean Business Model

A strategic approach that emphasizes creating more value for customers with fewer resources by optimizing business processes.

Days' Payable Outstanding

A financial ratio that indicates the average time (in days) that a company takes to pay its suppliers and creditors.