Examlex
Which of the following misstatements may cause the auditor to perform additional tests to determine if there are remaining misstatements in the account balance or class of transactions?
Just-In-Time (JIT)
A production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand.
Customer Demand
The total amount of a product or service that consumers are willing to purchase at a given price level within a specific time period.
Just-In-Time (JIT)
A management strategy that aligns raw-material orders from suppliers directly with production schedules to reduce inventory costs and increase efficiency.
Production Capacity
The maximum output that a business can produce in a given period with the available resources.
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