ACL Is an Example of

question 24

Multiple Choice

ACL is an example of

• A) An EDI software package.
• B) An IT software package.
• C) Software that allows auditors to retrieve and evaluate data from entity systems.
• D) A type of networking.

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Definitions:

Just-In-Time (JIT)

An inventory management system that aligns raw-material orders from suppliers directly with production schedules, aiming to reduce inventory costs and increase efficiency.

Quality Control

The process of ensuring that products and services meet specified standards of quality through testing and inspections.

Lot Sizes

Lot sizes refer to the quantity of items grouped together for manufacturing or purchasing purposes, affecting production planning and inventory management.

Economic Order Quantity

A formula used to determine the most cost-effective quantity to order stock, minimizing both ordering and holding costs.