Which of the Following Statements Is True of the Just-In-Time

question 65

Multiple Choice

Which of the following statements is true of the just-in-time costing system?

• A)It increases the need for suppliers to deliver raw materials on time.
• B)It records summary journal entries before the units are purchased.
• C)It results in increased inventory storage costs.
• D)It increases the risk of the inventory becoming obsolete or unsalable.

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Definitions:

President Truman

Harry S. Truman, the 33rd President of the United States, who served from 1945 to 1953 and is known for ending World War II by using atomic bombs on Japan.

Totalitarianism

The term that describes aggressive, ideologically driven states that seek to subdue all of civil society to their control, thus leaving no room for individual rights or alternative values.

Individual Rights

Describes the rights and freedoms that are guaranteed to each person, typically protected by law, from unwarranted government interference.

Soviet Union

A socialist state that existed from 1922 to 1991 in Eurasia, officially known as the Union of Soviet Socialist Republics (USSR), which was a federal union of multiple national republics.