Continuous Improvement with Lean Systems

question 89

Multiple Choice

Continuous improvement with lean systems:

• A) involves navigating a ship over treacherous rocks.
• B) requires periodically increasing lot sizes or workforce levels to uncover problems.
• C) entails systematically stressing the system and focusing on problem areas.
• D) focuses exclusively on internal operations without addressing relationships with customers and suppliers.

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Definitions:

Conditional Endorsement

An endorsement whereby payment can be made only on the fulfillment of a predecided condition, such as painting one’s house.

Negotiability

The ability of a document or instrument to be legally and freely transferred from one party to another.

Instrument Dishonored

A legal term for when a negotiable instrument (like a check or promissory note) is not honored or paid upon presentation.

Insufficient Funds

A situation where an account does not have enough money to cover transactions, leading to declined payments or penalties.