To Implement a Flow Process in Developing a Lean System

question 72

Multiple Choice

To implement a flow process in developing a lean system a firm might do which of the following?

• A) Improve capacity utilization.
• B) Build product in anticipation of demand.
• C) Reduce setup/changeover time.
• D) Eliminate some fixed costs.
• E) Implement groupware.

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Definitions:

Financial Errors

Mistakes in the accounting records that can distort the financial statements and mislead users.

Retained Earnings

The fraction of net earnings that is not allotted for dividends, but is retained by the company to reinvest in the core business activities or to pay off debts.

Annual Revenues

The total amount of money received by a company from its activities, such as sales of products or services, before any expenses are subtracted, within a fiscal year.

Expenses

The outflow of money to pay for goods, services, or assets, or the costs incurred in the operation of a business.