Parts Standardization Typically Does NOT

question 73

Multiple Choice

Parts standardization typically does NOT:

• A)reduce the time to develop a new product.
• B)reduce the cost of final products.
• C)reduce the profit of a new product.
• D)reduce the cost of developing new products.

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Definitions:

Legal Proceeding

A process by which a legal matter is resolved in a court of law.

Oral Contract

An agreement between parties that is made verbally instead of being documented in writing.

Admission

A statement made in court, under oath, or at some stage during a legal proceeding in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

Equal Dignity Rule

A legal principle requiring that agents’ actions and contracts signed on behalf of a principal must be in writing if the principal's contract is also required to be in writing.