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Which of the Following Statements Regarding a Just-In-Time (JIT) System

question 23

Multiple Choice

Which of the following statements regarding a just-in-time (JIT) system are true?
i. Materials are purchased and goods are produced only as required.
ii. Employees are highly skilled at single tasks in order to maintain quality control.
iii. A JIT system is characterised by small lot sizes.


Definitions:

Cash Equivalents

Short-term, highly liquid investments that are easily convertible to known amounts of cash, typically with original maturities of three months or less.

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