Which of the Following Is a True Statement About the Federal

question 42

Multiple Choice

Which of the following is a true statement about the Federal Accounting Standards Advisory Board?

• A) It is a sub-agency of the OMB.
• B) It is a shared jurisdiction board created following an agreement by three federal agencies.
• C) It is an executive office function.
• D) It was created by and reports to Congress.

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Definitions:

Safety Stock

Additional inventory maintained to mitigate the risk of stockouts due to uncertainties in demand or supply chain disruptions.

Lead Time

The amount of time that passes from the start of a process until its completion, often used in manufacturing and project planning.

Level Schedules

Production planning method that maintains a consistent output rate or workforce level, avoiding fluctuations in response to changing demand.

Shigeo Shingo

A Japanese industrial engineer known for his influential work in the Toyota Production System and the development of lean manufacturing principles.