Income That Be Associated Definitely with Operations, Such as a Gain

question 157

True/False

Income that be associated definitely with operations, such as a gain from the sale of a fixed asset, is listed as Other Income on the multiple-step income statement.

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Definitions:

JIT

Just-In-Time, a management philosophy aimed at eliminating waste by receiving goods only as they are needed in the production process.

Kanban

A scheduling system for lean manufacturing and just-in-time manufacturing (JIT), signaling the need to move materials within a production facility or to the facility from the external supplier.

MRP

Material Requirements Planning, a software-based production planning and inventory control system used to manage manufacturing processes.

Short-Term Scheduling

The process of assigning and managing tasks or resources over a short period of time, typically focused on immediate or near-term objectives.