Value Stream Mapping Compares

question 1

Multiple Choice

Value stream mapping compares

• A)the cost of a producing a product with the profit to be received from the sale of the product
• B)cycle time with value added time
• C)total time with value added time
• D)kaizen with Kanban-based processes

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Definitions:

Unliquidated Debt

A debt for which the exact monetary value has not been determined.

Preexisting Duty

An obligation that a party is already legally bound to fulfill, which cannot serve as consideration for a new contract.

Accord and Satisfaction

A legal settlement where an agreement is made to discharge a claim by providing some form of compensation that differs from the original obligation.

Liquidated Debt

A debt for which the exact monetary value has been determined and acknowledged by both the debtor and the creditor.