Since inventory is required to conduct business, inventory is never considered as a waste of resources in a lean production system
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False
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As Monty Corp., a shoe manufacturer, grows more profitable, it wants to become more competitive as an employer in the labor market. Juliet, the human resource manager, urges the company to develop a more attractive package of benefits, rather than simply raising salaries. Which statement best supports Juliet's argument?
A. Employees do not pay income taxes on most benefits they receive. B. Employees could get a better deal if they bought their own insurance policies. C. Higher cash compensation gives employees more purchasing power. D. Benefits are harder for employees to understand than pay structures. E. Different employees look for different types of benefits.
California Company sold a product for $7,150 to Alliance Enterprises on credit. The cost of goods sold is $5,650. Assuming the firm is following a perpetual inventory system and using a sales journal, it will record $5,650 in the ________.
A) Accounts Receivable DR, Sales Revenue CR column B) Cost of Goods Sold DR, Merchandise Inventory CR column C) Merchandise Inventory DR, Cost of Goods Sold CR column D) Sales Revenue DR, Accounts Receivable CR column
In general, one partner acting alone cannot obligate the partnership to another party
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An advantage of using the perpetual inventory system is that it requires less recordkeeping than the periodic inventory system
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