A Team Has Been Given a Project Which Requires Them

question 114

Multiple Choice

A team has been given a project which requires them to design a new product with the following key performance indicators (KPIs) and prototype results: What should be the next step of the project?

• A) Close prototype phase and move to production phase
• B) Stay in prototype phase and issue formal corrective action to address prototype yield only
• C) Stay in prototype phase and issue formal corrective action to address all key performance indicators
• D) Close prototype phase and move to production phase with verbal understanding that yield needs to increase

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Definitions:

Physical Inventory

The process of counting and verifying the actual quantities of physical merchandise or assets present in a store or warehouse.

Inventory Costing Methods

Inventory costing methods are accounting principles used to value inventory, including first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average cost.

Net Income

A company's remaining earnings after deducting all expenses and taxes from its revenue.

FIFO Method

An inventory valuation method that assumes the first items placed in inventory are the first sold.