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NEW QUESTION: 1
A company produces a single product which is sold to one customer.
Components for the product are stored in a warehouse and when required for production they are inspected. Those passing the quality check are moved to the initial production line. Part-completed items are then inspected and those passing this second quality check are moved to the warehouse until required in the finishing process. After the finishing process the products are inspected, packaged and returned to the warehouse until required by the customer.
The company is considering implementing a full just-in-time (JIT) system for both purchasing and production and has asked your advice about the activities that will be necessary if this system is implemented.
Which THREE of the following activities will definitely be required in the proposed JIT system?
A. Finished product despatched to customer
B. Part finished product inspected
C. Finished product stored
D. Product manufactured
E. Components inspected
F. Components received
Answer: A,D,F
NEW QUESTION: 2
When discussing the Receivables to Ledger Reconciliation Report with your customer, you are asked a number of questions about how to run the report. Which statement is true?
A. You can exclude unidentified receipts, but you cannot exclude on-account activities and unapplied receipts.
B. You can include or exclude intercompany transactions, or you can reconcile by intercompany activity only.
C. You cannot exclude on-account activities, unapplied receipts, and unidentified receipts.
D. You can select only a Closed accounting period.
Answer: B
NEW QUESTION: 3
A. Option D
B. Option B
C. Option C
D. Option A
Answer: B