Which of the Following Describes a System in Which Suppliers

question 86

Multiple Choice

Which of the following describes a system in which suppliers deliver materials at the time they are needed and finished units are completed when customer orders need to be filled?

• A)Supply chain management
• B)Just-in-time (JIT)management
• C)Enterprise resource planning (ERP)
• D)Total quality management (TQM)

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Definitions:

Repairs Expense

Costs incurred in the maintenance of assets to keep them in their original condition, without adding to their value or extending their life.

Maintenance Expense

Costs incurred to keep property, equipment, or assets in efficient operating condition.

Par Value

A nominal value assigned to a security or share, representing its minimum stated value.

Common Stock

A type of equity security that represents ownership in a corporation, with voting rights and potential dividends.