Which of the Following Statements Is NOT Correct

question 43

Multiple Choice

Which of the following statements is NOT correct?

• A) Little's Law is very powerful and widely used in business.
• B) Little's Law applies to service processes and manufacturing processes.
• C) Little's Law assumes that arrival rates and throughput times are constantly changing.
• D) All of the above are incorrect statements.

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Definitions:

Accord and Satisfaction

Accord and Satisfaction is a legal settlement where a debtor agrees to pay a lesser amount than originally owed, and the creditor agrees to accept this as full settlement of the debt.

Specific Performance

A legal remedy where the court orders a party to fulfill their obligations under a contract, as opposed to awarding damages.

Waiver

A waiver is the voluntary relinquishment or surrender of some known right or privilege.

Supervening Illegality

A situation where a law change after an agreement is made renders the performance of the contract illegal.