The Just-In-Time System Emphasizes That Customer Demand Is the Most

question 35

True/False

The just-in-time system emphasizes that customer demand is the most important factor in determining how much product to manufacture.

---

Definitions:

Partners' Equity

The interest or claim that partners have in the assets of a business, equal to the total assets minus liabilities and other equities.

Equity

The amount of money that would be returned to shareholders if all of the assets were liquidated and all of the company's debt was paid off.

Liquidation

The process of closing a business, selling its assets to pay off liabilities, and distributing any remaining assets to owners or shareholders.

Realization

The process of converting non-cash assets into cash or recognizing revenue when goods are sold or services are rendered.