A balanced system in which there is little or no delay time and idle in-process and finished inventory is called _________.
Fill in the blank(s) with the appropriate word(s).
just-in-time
A balanced system in which there is little or no delay time and idle in-process and finished inventory is called just-in-time.
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A contingency was evaluated at year-end and considered to have a remote possibility of becoming an actual liability. If this was not reported on the balance sheet or in the notes to the financial statements, what effect would this have on the financial reporting of the company?
A) There would be no effect. B) The liabilities on the balance sheet would be understated. C) The information about the transaction would be inadequately disclosed in the notes. D) The net income of the company would be understated.
A ______ will believe that one can choose which values to apply or use based on the situation or context.
a. individualist b. universalist c. particularist d. dualist
The peak level of unit sales will occur in which stage of the product life cycle?
a. growth b. maturity c. decline d. introduction
Equity theory says we compare our ratio to
a. Referent others b. Authorities c. Inequality figures d. Perceived inequity