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Which of the Following Statements Is (Are) True About Non-Value-Added

question 56

Multiple Choice

Which of the following statements is (are) true about non-value-added activities?
I. Non-value-added activities are often unnecessary and dispensable.
II. Non-value-added activities may be necessary but are being performed in an inefficient and improvable manner.
III. Non-value-added activities can be eliminated without deterioration of product quality, performance, or perceived value.


Definitions:

Immediate Loss

Financial damage or cost incurred directly as a result of an event, action, or decision, without any delay.

Forged Instruments

Documents that are illegally altered or created to deceive or commit fraud.

Presentment Warranty

A guarantee in commercial transactions that all statements and endorsements regarding a negotiable instrument are true.

Altered Check

A negotiable instrument that has been unlawfully modified in order to benefit someone other than the intended payee, typically involving change to the amount or payee name.

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