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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.
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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