Ford's Assembly-Line,mass Production System and Toyota's System of Lean Production

question 22

True/False

Ford's assembly-line,mass production system and Toyota's system of lean production were the two process innovations that transformed the manufacture of automobiles during the 20^th century.

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Definitions:

Journalize

The process of recording financial transactions in a journal, which is the first step in the accounting cycle.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are in agreement and correct.

Adjusted Balance

The account balance after adjustments have been made for interest, payments, and charges.

Bank Statement

A document issued by a bank summarizing an account's transactions, including deposits, withdrawals, and current balance, over a specific period.