In Which Type of Inventory System Do the Parts Arrive

question 32

Multiple Choice

In which type of inventory system do the parts arrive at the stage of the production process just when they are needed?

• A) Raw materials system
• B) Work-in-process system
• C) Finished goods system
• D) JIT system
• E) Goods for resale system

---

Definitions:

Insurance Policy

A contract between an insurer and a policyholder that defines the claims which the insurer is legally required to pay.

Sale of Real Estate

The process of transferring ownership of property from one party to another, involving legal documentation and financial transactions.

Insurance Company's Agent

An insurance company's agent is an individual authorized to sell and manage insurance policies on behalf of an insurance company.

Coinsurance Clause

A provision in insurance policies requiring the policyholder to bear a portion of the costs of a claim, encouraging insured parties to avoid excessive claims.