Which of the Following Is Characteristic of the JIT Philosophy

question 76

Multiple Choice

Which of the following is characteristic of the JIT philosophy?

• A) Inventories are an asset
• B) Lot sizes are optimized by formula
• C) Tolerate some scrap
• D) Elimination of waste
• E) Rigidity

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Definitions:

Cash Investment

A financial contribution made in the form of cash, often to purchase securities, assets, or fund business operations.

Salary Allowances

Payments in addition to the basic salary, intended to cover specific expenses or compensate for particular conditions of employment.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and losses from total revenue.

Partner

A partner is an individual or entity engaged in a partnership, sharing the profits, losses, and management responsibilities within the business agreement.