What are the goals of JIT partnerships?
What will be an ideal response?
1. Removal of unnecessary activities, such as receiving, incoming inspection, and paperwork related to bidding, invoicing, and payment.
2. Removal of in-plant inventory by delivery in small lots directly to the using department as needed.
3. Removal of in-transit inventory by encouraging suppliers to locate nearby and provide frequent small shipments.
4. Obtain improved quality and reliability through long-term commitments, communication, and cooperation.
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Going to court to resolve a conflict is not a desirable best alternative to a negotiated agreement (BATNA)
Indicate whether the statement is true or false.
Which of the following is the basic governing document of a corporation?
a. A subscription. b. A charter, after filing. c. The set of bylaws. d. A certificate of authority.
A $400,000 issue of bonds that sold for $383,000 matures on August 1, 2025. The journal entry to record the payment of the bond on the maturity date is to:
A) debit Cash, $400,000; credit Bonds payable, $400,000. B) debit Bonds payable, $400,000; credit Cash, $400,000. C) debit Cash, $383,000; credit Bonds payable, $383,000. D) debit Bonds payable, $383,000; credit Cash, $383,000.
Which of the following is a form of co-ownership that disallows the right of survivorship and allows unilateral transfer of interest?
A. tenancy in common B. joint tenancy C. cooperatives D. tenancy by the entirety