Select the Appropriate Definition for Each of the Items Listed

question 95

Multiple Choice

Select the appropriate definition for each of the items listed below.
-The ratio of sales to average operating assets.

• A)Turnover
• B)Margin
• C)ROI
• D)Residual income

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Definitions:

Reducing Inventory

The process of decreasing the amount of goods or materials held in stock to minimize holding costs and increase efficiency.

Reducing Distance

Reducing distance refers to the optimization efforts aimed at minimizing the physical space or time between processes or locations to enhance efficiency.

Product Inspection

The process of examining and testing items or goods to ensure they meet specified standards or requirements before being sold or shipped.

Adds Value

The process of enhancing a product or service before offering it to customers, increasing its desirability and worth.