The MRP Process of Determining Requirements for Lower Level Items

question 74

Multiple Choice

The MRP process of determining requirements for lower level items based on the master production schedule is referred to as

• A)lot sizing.
• B)netting.
• C)backward scheduling.
• D)exploding.

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Definitions:

Preprinted Promissory Note

A legally binding document that acknowledges debt and promises repayment, which comes in a standardized form.

Payable

Refers to an amount of money that is owed and should be paid.

Bankruptcy

A legal process by which individuals or entities who cannot repay debts to creditors may seek relief from some or all of their debts.

Discharge

The termination of an obligation, such as a contractual duty or a financial debt, usually upon the completion of the terms agreed upon.