________ Are Payments Made to Groups or Individuals When No

question 54

Multiple Choice

________ are payments made to groups or individuals when no good or service is received in return.

• A) Transfer payments
• B) Entitlements
• C) Exempt payments
• D) Unilateral payments
• E) Endorsements

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Definitions:

Push Manufacturing

The traditional approach to manufacturing in which products are manufactured according to a production schedule based on estimated sales; the schedule pushes product into inventory before customer orders are received.

Make to Order

A production strategy where manufacturing starts only after a customer places an order, tailoring products to specific customer requirements.

Lean Environment

A systematic method for waste minimization within a manufacturing system without sacrificing productivity, focusing on adding value and reducing non-value activities.

Raw Materials

Basic materials used in the production process, not yet transformed into final products.