The Philosophy and a Business Strategy of Manufacturing Without Waste

question 164

Multiple Choice

The philosophy and a business strategy of manufacturing without waste is referred to as:

• A)lean production.
• B)thin manufacturing.
• C)TQM.
• D)ISO 9001.

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Definitions:

Unsecured Creditor

A lender or creditor that extends credit without obtaining specific collateral, ranking below secured creditors in the event of a bankruptcy.

Perfect

To bring something to a state of completeness or flawlessness; in legal and financial contexts, to finalize or make an action legally binding.

Collateral

An asset offered to secure a loan or other credit, which can be seized by the lender if the loan is not repaid.

Automatic-Perfection Period

A specified timeframe following the attachment of a security interest during which the interest is considered perfected without filing.