Which of the Following Statements Is Best

question 7

Multiple Choice

Which of the following statements is best?
I. Lean and manufacturing planning and control cannot work together.
II. The lean philosophy simplifies and reduces manufacturing planning and control problems.
III. Lean requires a very good planning and control system.

• A) all the above are true
• B) I and II
• C) I and III
• D) II and III
• E) none of the above

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Definitions:

Collection Time

The time duration that a business takes to recover the payments owed to it by its clients, often measured from the date of sale or service delivery.

Collection Float

The time interval between when a check is deposited in a bank and when the funds are made available.

Zero-Balance Account

A type of bank account that maintains a balance of zero by automatically transferring funds from a master account in exact amounts to cover charges or checks presented.

Master Account

A primary account in financial management that holds funds or securities and from which transactions can be made.