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Just-In-Time Manufacturing Is a Characteristic of Flexible Production Systems

question 49

True/False

Just-in-time manufacturing is a characteristic of flexible production systems.


Definitions:

Indirect Method

A method used in cash flow statements to calculate net cash flow from operating activities by adjusting net income for changes in non-cash accounts like accounts receivable, accounts payable, and depreciation.

Current Liability

A financial obligation that is due within one year or within the normal operating cycle of the business, whichever is longer.

Indirect Method

A cash flow statement format that starts with net income and adjusts for non-cash transactions and changes in working capital to arrive at net cash provided by operating activities.

Comparative Balance Sheet

A financial statement that compares the balance sheets of two periods, highlighting changes in assets, liabilities, and equity.

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