The Features and Characteristics Approach

question 13

Multiple Choice

The features and characteristics approach

• A) focuses only on total quality, zero-defects.
• B) recognizes the cost of a product is determined by the rate of flow of the product through the value stream.
• C) recognizes the cost of a product is determined by the amount of labor time required to make the product.
• D) recognizes the cost of a product is determined by the amount of machine hours required to make the product.

---

Definitions:

Objective Standard

A legal benchmark that uses a reasonable person's perspective to evaluate an individual's actions or decisions in a given situation.

Condition Subsequent

A condition in a contract that, upon occurrence, terminates the contract or an obligation within the contract.

Real Estate Contracts

Legally binding agreements related to the purchase, sale, lease, or exchange of real property.

Substantial Performance

A legal concept that occurs when a party has completed the major obligations of a contract, entitling them to payment.