4. For JIT to operate successfully, all similar pieces of equipment (such as lathers or drill presses) must be grouped together. 5. One way to reduce inventories is to reduce the setup time needed between production runs.

4. For JIT to operate successfully, all similar pieces of equipment (such as lathers or drill presses) must be grouped together. 5. One way to reduce inventories is to reduce the setup time needed between production runs.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Please answer Numbers 4 and 5. True or False? If False, write the correct statement.

4. For JIT to operate successfully, all similar pieces of equipment (such
as lathers or drill presses) must be grouped together.
5. One way to reduce inventories is to reduce the setup time needed
between production runs.
6. The most effective. way to achieve total quality control is to have an
Inspection Department that inspects all incoming raw materials, and
inspects goods as they move along the product flow line.

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