A Flexible Manufacturing System Is

question 70

Multiple Choice

A flexible manufacturing system is

• A) one-of-a-kind production using skilled labor.
• B) highly automated assembly lines making one mass-produced product using little human labor.
• C) a grouping of parts into manufacturing families to produce a wide variety of mass-produced items.
• D) a process utilizing the just-in-time (JIT) method of manufacturing.
• E) standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed.

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Definitions:

Underground Storage

Facilities used for storing various substances below the earth’s surface, often pertaining to fuel and hazardous materials.

Net Income

The total earnings of a company after all expenses and taxes have been deducted from total revenue, indicating the company's profitability.

CCA Class

In Canadian taxation, Capital Cost Allowance (CCA) Classes categorize depreciable assets for the purpose of determining annual depreciation expenses for tax purposes.

After-Tax Proceeds

The amount of money that remains after all taxes have been deducted from the gross proceeds of a transaction.