A JIT System Works Best for Organizations That Make Customized,one-Of-A-Kind

question 26

True/False

A JIT system works best for organizations that make customized,one-of-a-kind products or services.

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Definitions:

Capital Deficiency

A scenario in which a firm's short-term obligations surpass its short-term resources, suggesting possible financial trouble.

Liquidation

The process of bringing a business to an end and distributing its assets to claimants, often conducted when a company is insolvent.

Convert

To change something into a different form or properties, often used in financial contexts such as converting currencies or securities.

Gain

An increase in the value of an asset or a decrease in the value of a liability which contributes to an increase in the owner's equity.