Examlex

Solved

The Objective of Value Analysis Is to Enhance Value by Reducing

question 33

True/False

The objective of value analysis is to enhance value by reducing the cost of a good or service without sacrificing quality, enhancing functionality without increasing cost, or providing greater functionality to the user above and beyond any increase in cost.


Definitions:

Means Test

A procedure used to determine eligibility for certain types of government assistance or legal aid, based on the financial situation of the applicant.

Chapter 7

A bankruptcy provision under U.S. law that involves the liquidation of a debtor's assets to pay off creditors.

Chapter 13

A portion of the U.S. Bankruptcy Code permitting individuals earning a steady income to devise a strategy for repaying their debts either in full or in part.

Liquidation Proceeding

A legal process in which a company's assets are sold off to pay creditors.

Related Questions