Southwest Airlines Illustrates the Application of "Lean Principles" When It

question 38

Multiple Choice

Southwest Airlines illustrates the application of "lean principles" when it

• A)reduces airplane turnaround time at airport gates.
• B)assigns airplane seats.
• C)serves all passengers in-flight dinners.
• D)requires a change of ticket fee for missing a scheduled flight.

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Definitions:

IRC Section 179

Allows taxpayers to deduct the cost of certain property as an expense when the property is placed in service (rephrased definition for §179 Expense).

Depreciated

The reduction in the recorded cost of an asset in accounting, reflecting wear and tear, age, or obsolescence.

Ordinary Expense

An expense that is common, accepted, necessary, and appropriate for a business or individual's trade or profession under tax law.

Advertising

The activity or profession of producing advertisements for commercial products or services to increase sales or public awareness.