With the __________ Inventory Control System, Producers Hold Only the Amount

question 186

Multiple Choice

With the __________ inventory control system, producers hold only the amount of materials and parts that they need for a short period of time, sometimes just a few hours.

• A) ABC
• B) first-in, first-out
• C) just-in-time (JIT)
• D) maximum

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Definitions:

Cease to Exist

To stop existing or to come to an end completely, often used in the context of organizations, entities, or life.

Substantially All

Pertaining to the majority or nearly the complete portion of something, often used in legal contexts concerning asset transfers.

Shareholder Approval

The process by which actions affecting a corporation and its governance must be approved by a majority of its shareholders.

Ordinary Course

Activities that are considered part of the normal, day-to-day operations of a business.