Just-In-Time Processing Is a Business Philosophy That Focuses on Reducing

question 82

Multiple Choice

Just-in-time processing is a business philosophy that focuses on reducing time and cost and eliminating poor quality. This is accomplished in manufacturing and non-manufacturing processes by:

• A) moving a product from process to process as each function is completed
• B) combining processing functions into work centers and cross-training workers to perform more than one function
• C) having production supervisors attempt to enter enough materials into manufacturing to keep all manufacturing departments operating
• D) having workers typically perform one function on a continuous basis

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Definitions:

Trust Indenture

A trust indenture is a legal agreement in a bond contract that outlines the responsibilities of the bond issuer and the rights of the bondholders.

Unamortized Discount

The portion of a bond discount that has not yet been amortized (expensed) over the life of the bond.

Retirement

The point in time when an individual chooses to leave the workforce permanently, usually associated with reaching a certain age or financial security.

Par Value

The face value of a bond or the stock value stated in the corporate charter, which is typically a minimal amount not reflective of the market value.