Which of the Following Is an Example of Value-Added Time

question 8

Multiple Choice

Which of the following is an example of value-added time?

• A)processing time
• B)wait time during inspection
• C)wait time in inventory
• D)none of these choices

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Definitions:

Basis of the Bargain

Refers to the fundamental expectations or promises that constitute the foundation for the agreement between contracting parties.

Express Warranty

A clear, affirmative promise or guarantee by a seller about the quality or functionality of a product or service.

Basis of the Bargain

A term from contract law referring to the essential facts and terms agreed upon by the parties, influencing their decision to enter into a contract.

Negligent Design

A legal claim that occurs when a product is poorly designed, leading to injury or damage due to the manufacturer's failure to foresee risks.