The ratio of quick assets to current liabilities is called the acid-test ratio or ____________________.
Fill in the blank(s) with the appropriate word(s).
quick ratio
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________ describes the service program for helping customers keep purchased products in good working order
A) Returns B) Ordering ease C) Installation D) Maintenance and repair E) Delivery
Which of the following statements is TRUE of costing systems?
A) A process costing system would be used by manufacturers of custom-made perfumes. B) A job order costing system would be used by manufacturers of baking utensils. C) A construction company would likely use a process costing system. D) An accounting firm would likely use a job order costing system.
Abnormal continuous losses are absorbed by all units in ending inventory and transferred out on a EUP basis
Indicate whether the statement is true or false
Which of the following statements about lean manufacturing is true?
a. lean manufacturing differs from JIT in the respect that inventory levels are high in JIT and not in lean manufacturing. b. lean enterprises make products that are in demand by customers, and they make them without waste. c. all of the above statements are true. d. One of the disadvantages of lean manufacturing is that the cost of poor quality remains high in the organizations that adopt lean principles