An Element of Just-In-Time Processing Is

question 117

Multiple Choice

An element of just-in-time processing is

• A) dependable suppliers who are willing to deliver on short notice.
• B) a multi-skilled workforce.
• C) a total quality control system.
• D) all of these.

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Definitions:

Unauthorized Signature

An unauthorized signature is one made without the express or implied permission of the person whose name is signed, rendering the agreement or document potentially invalid.

Fictitious Payee Rule

A legal principle that states if a negotiable instrument is made payable to a fictitious person, the entity that neglects to verify the authenticity of the payee can be held liable for any resulting loss.

Imposter Rule

A rule which holds that if one party obtains a negotiable instrument by impersonating another party and endorses it with the impersonated party’s signature, the loss falls on the drawer of the instrument.

Drawer

In financial terms, the person who writes or issues a check, directing a bank to pay the stated amount from the drawer's account.