After Installing A(n)_______ in Its JIT System,Chocolate Tree (A Retail

question 71

Multiple Choice

After installing a(n) _______ in its JIT system,Chocolate Tree (a retail chocolate store) was able to reduce lead time for merchandise orders.

• A) supply chain
• B) distribution center
• C) quick change directory
• D) electronic data interchange system
• E) checking system

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Definitions:

Deposits In Transit

Funds that have been received and recorded by a company but have not yet been recorded by the bank.

Outstanding Checks

Checks that have been written and recorded in the check register but have not yet been cashed or cleared by the bank.

Credit Memo

A document issued by a seller to a buyer, reducing the amount that the buyer owes to the seller under the terms of an earlier invoice.

NSF Checks

Checks that are not honored by the bank due to insufficient funds in the account of the drawer.