A(n) ___________ Inventory Policy Seeks to Have Raw Materials and Work-

question 99

Multiple Choice

A(n) ___________ inventory policy seeks to have raw materials and work- in- process delivered to the manufacturing site just as they are needed.

• A) BOM
• B) cost effective
• C) MPS
• D) JIT

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Definitions:

Accounting Records

Documentation and books that keep track of the financial transactions of a business or individual, forming the basis for its financial statements.

Asset

Resources controlled by a business from which future economic benefits are expected to flow to the business, including both physical items and intangible properties.

Credit

An entry on the right side of a double-entry bookkeeping system that increases liabilities and equity or decreases an asset or expense.