Just in time jit Study guides, Class notes & Summaries

2023 Certified Paraoptometric (CPO) Exam And Answers Accounts Payable - CORRECT ANSWER-Outstanding business obligations that are owed to others. Accounts Receivable - CORRECT ANSWER-Outstanding obligations owed to the business by others. Cash Flow Statement - CORRECT ANSWER-A picture of all cash inflows and outflows within the business. Gross Profit - CORRECT ANSWER-The percentage of business income before expenses. Just in Time (JIT) - CORRECT ANSWER-A strategy to improve a busin...

AQA GCSE Business Questions with complete solution 2024 Efficiency is the...? - correct answer minimisation of production resources whilst maximising production output. The lower the average unit cost is, the more _________ a business is. - correct answer efficient Break even formula: - correct answer Fixed Costs / Contribution (selling price - V. Cost) What are 6 types of waste? - correct answer Over Production Waiting Times Transport Stock going out of date/fashion/becoming...

Certified Paraoptometric (CPO) UPDATED Exam Questions and CORRECT Answers Accounts Payable - Ans Outstanding business obligations that are owed to others. Accounts Receivable - Ans Outstanding obligations owed to the business by others. Cash Flow Statement - Ans A picture of all cash inflows and outflows within the business. Gross Profit - Ans The percentage of business income before expenses. Just in Time (JIT) - Ans A strategy to improve a business return on investment.

Test Bank Managerial Accounting: Creating Value in a Dynamic Business Environment, 13th Edition by Ronald Hilton Appendix III 1) The EOQ model is a mathematical tool for determining the order quantity that: A) maximizes the costs of ordering and holding inventory. B) equals the costs of ordering and holding inventory. All Chapters C) minimizes the costs of ordering and holding inventory. D) has no effect on the costs of ordering and holding inventory. E) none of these answers are correct. Answer...

LAST-IN FIRST OUT (LIFO) - ANSWER Utilized in Private Sector. Due to taxes, it is beneficial to use the latest received item JUST-IN-TIME (JIT) INVENTORY - ANSWER Inventory system in which companies manufacture or purchase goods just in time for use. Technique focused on the inventory reduction and value- added activity. SCRAP - ANSWER Consist of ferrous and non-ferrous metal as well as non-metallic scrap such as wood, paper, plastic and other materials that do not meet requirements or st...

Certified Paraoptometric (CPO) PASSED Exam Questions and CORRECT Answers Just in Time (JIT) - Ans A strategy to improve a business return on investment. Return on Investment (ROI) - Ans A measurement of success of a project; the percent of profit earned on an investment. An optometrist is licensed by which governing body: - Ans State The person generally responsible for grinding or duplicating lenses is the: - Ans Optician A doctor of medicine specializing in surgery is an: - Ans Ophthal...

supply chain management correct answers set of a approaches and techniques that firms use to integrate suppliers, manufacturers, warehouses, stores, and transportation intermediaries so that products are distributed in the right quantity to the right location at the right time while managing costs. logistics management correct answers customer service, demand forecasting, distributor communication, inventory control, materials handling, order processing, parts and service support, plant and s...

Total Quality Management (TQM) Philosophy - ANS 1. customer focus 2. continuous improvement 3. employee empowerment 4. use of quality tools 5. product design 6. process management 7. managing supplier quality Process Capability Index (Cpk) - ANS Basic function of Six Sigma. Measures the process potential and performance of processes. The higher the range of Cpk, the improved is the ability of the process to complete its necessities. Six Sigma - ANS A disciplined, data-driven ap...

Accounts Payable - ANSWER Outstanding business obligations that are owed to others. Accounts Receivable - ANSWER Outstanding obligations owed to the business by others. Cash Flow Statement - ANSWER A picture of all cash inflows and outflows within the business. Gross Profit - ANSWER The percentage of business income before expenses. Just in Time (JIT) - ANSWER A strategy to improve a business return on investment. Net Income/Profit - ANSWER Revenues minus expenses. Net Worth - ...

Capital-Labor Substitution: - ANSWER-An organization's ability to substitute labor for capital or vice versa as production increases. Experience Curve: - ANSWER-increases. Experience Curve: The reduction in per-unit costs that occur as an organization gains experience producing a product or service. Functional Strategies: - ANSWER-The strategies pursued by each functional area of a business unit, such as marketing, finance, or production. Human Capital: - ANSWER-The sum of the capabiliti...