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Value Stream Mapping Is Used to Identify All of the Value-Adding

question 77

True/False

Value stream mapping is used to identify all of the value-adding as well as non-value-adding processes that materials are subjected to within a plant.


Definitions:

Unlimited Liability

The legal obligation of business owners to bear any and all debts of the business with their personal assets.

Personal Assets

Individual possessions or properties, including money, that belong to a person, not related to business assets.

Sole Proprietor

A type of business entity owned and operated by a single individual, where there is no legal distinction between the owner and the business.

Personal Fortune

A person's net worth comprised of assets, cash, and investments minus any liabilities.

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