Greta Is a Member of Hovercraft LLC

question 7

Multiple Choice

Greta is a member of Hovercraft LLC.As a member,Greta is

• A)a manager or officer,but not an owner.
• B)an investor,but not a manager,officer,or owner.
• C)an owner.
• D)a participant,but not an investor,manager,officer,or owner.

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Definitions:

Carrying Costs

Expenses associated with holding inventory, such as storage, insurance, and opportunity costs.

Safety Stock

A quantity of inventory kept on hand as a precaution against fluctuations in demand or supply, ensuring the mitigation of stockout risks.

Pull Method

A manufacturing and inventory strategy where production is based on customer demand rather than forecasting.

Work-In-Process Inventory

Goods that are in various stages of the production process but are not yet completed.