Which of the Following BEST Describes Just-In-Time Inventory Management

question 138

Multiple Choice

Which of the following BEST describes just-in-time inventory management?

• A) Production system that stores surplus goods at each stage of manufacture
• B) Inventory purchasing process that gains purchase discounts by buying in large quantities
• C) Production system that focuses on delivering materials and goods in exactly the right quantity when needed
• D) Inventory system which stockpiles raw materials to protect against supply interruptions

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Definitions:

Net Income

The earnings a company has left after subtracting all costs, taxes, and expenses from its overall revenue.

Adjusting Entry

A journal entry made at the end of an accounting period to record revenue or expenses in the period they occur rather than when cash is received or paid.

Unearned Subscription Revenue

Refers to the money received for services or products that have not yet been delivered or performed, often recognized as a liability on the balance sheet.

Office Supplies

Consumable items used in offices or businesses for daily activities, such as pens, paper, and staplers.