Which of the following is a part of the "just-in-time" inventory control philosophy?
A) Job tasks should be highly specialized.
B) Machinery must produce a large number of items to justify long set-up times and high costs.
C) The lower the level of inventory a manufacturer maintains, the more efficient is the production system.
D) Long production runs of standard items are ideal.
Answer: C
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Tissues, Inc., began operations in January by issuing 10,000 shares of $0.10 par value common stock for $10 per share. It also issued 1,000 shares of $50 par value, 4%, noncumulative preferred stock for $50 each. Net income for the year was $500,000 and dividends were $44,000. The journal entry to record the issuance of the preferred stock includes a ______.
a. credit Preferred Stock $50,000 b. debit Preferred Stock $50,000 c. debit Cash $50,000 d. debit Cash $2,000 e. credit Preferred Stock $2,000 f. credit Cash $50,000 g. credit Cash $2,000 h. debit Preferred Stock $2,000
Which of the following statements is LEAST accurate?
a. Color can be used for headings. b. Color helps readers focus on essential information. c. Use very bright colors to draw attention to text. d. Bold or shading can be used instead of color.