Which One of the Following Characteristics Would Likely Be Associated

question 135

Multiple Choice

Which one of the following characteristics would likely be associated with a just-in-time inventory method?

• A) Ending inventory of work in process that would allow several production runs
• B) A backlog of inventory orders not yet shipped
• C) Minimal finished goods inventory on hand
• D) An understanding with customers that they may come to the showroom and select from inventory on hand

---

Definitions:

Perfect Competition

A market structure where numerous small firms compete against each other, and products are identical, leading to no single company influencing the market price.

Profit-Maximizing

The strategy employed by an enterprise to determine the price and output that yields the maximum profit.

Loss-Minimizing

A strategy or approach aimed at reducing the amount of losses an individual or organization may incur.

Long-Term Contracts

Agreements between parties that extend over a significant period of time, often used to ensure stability in supply, demand, and pricing conditions.