The Reason a Just-In-Time System Focuses on the Control of Inventories

question 5

Multiple Choice

The reason a just-in-time system focuses on the control of inventories is because:

• A) they drive production lead times.
• B) they are an expensive capital item for most firms.
• C) they are what customers want.
• D) they have non-value-added characteristics.

Recognize and describe the architectural and artistic innovations of ancient Mesopotamia.

Identify the creators and purposes of significant historical artifacts and architecture in ancient Mesopotamia.

Understand the role and impact of specific empires and figures within Mesopotamian history.

Describe the materials and techniques used in ancient Mesopotamian art and architecture.

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Definitions:

Operating Expenses

Costs incurred during the normal functioning of a business, excluding pricing of goods sold.

Net Income

Net Income is the total profit of a company after all expenses, including taxes and operating costs, have been deducted from revenues.

Accounts Payable

Money owed by a company to its creditors for goods and services that have been received but not yet paid for.

Drawings

The funds withdrawn by the owner of a sole proprietorship or partnership from the business for personal use.