Which of the Following Pertains to a Just-In-Time Production System

question 114

Multiple Choice

Which of the following pertains to a just-in-time production system?

• A) It will have more inventory accounts to track production costs.
• B) It will produce goods in smaller batches than a traditional production system.
• C) It will require higher inventory levels.
• D) It will require longer setup times than a traditional production system.

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Definitions:

Net Income

The residual income of a firm after adding total revenue and gains and subtracting all expenses and losses for the reporting period, effectively the company's profit.

Subsidiary Ledger

A detailed ledger that contains the individual accounts related to a specific main account, aiding in the organization and breakdown of financial information.

Balance Sheet

A ledger entry that captures the financial position of a business, enumerating assets, liabilities, and the stake of shareholders at an exact moment.

Original Investments

The initial amount of money or value of assets put into a business or project by its founders or investors.