Which of the Following Describes Just-In-Time Inventory Methods

question 113

Multiple Choice

Which of the following describes just-in-time inventory methods?

• A)JIT inventory is a method of managing purchasing only.
• B)JIT inventory is a method of managing production only
• C)JIT inventory is a method of sales only.
• D)JIT inventory is a method of managing purchasing,production,and sales.

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Definitions:

Hiring Labor

The process of finding, evaluating, and employing individuals to work for a business or organization.

Payment Stream

A sequence of payment installments made over a period of time, often associated with loans or annuities.

Rented Capital

The use of assets or equipment by a firm for a period of time in exchange for payment without owning them.

Capital Usage

Refers to how assets are employed within a firm to generate value, emphasizing the effective application of physical and financial capital.