Which of the Following Is Characteristic of the Just-In-Time System

question 46

Multiple Choice

Which of the following is characteristic of the just-in-time system?

• A) Fewer work in process account transactions.
• B) Work in process and raw materials accounts combined.
• C) Elimination of the direct labor account.
• D) All of the above.

---

Definitions:

Indemnify

To compensate for harm or loss; in legal contexts, often involves a party agreeing to bear any losses or damages incurred by another party.

Third-party Claims

Third-party claims involve demands for compensation or legal action brought by someone who is not a direct party to a contract, usually in liability or insurance cases.

Insurance

A contract by which an insurance company, the insurer, promises to pay a sum of money or give something of value to another, either the insured or the beneficiary, to compensate for a specified loss.

Concurrent Property Ownership

Ownership of property by two or more parties at the same time, where each party has an undivided interest in the whole property.