What are the major features of the just-in-time inventory system? Is it applicable to small companies? Be prepared to defend your answer.
Answer to relevant QuestionsWhy is the customer focus of quality management so important in a small firm? Why can be done to ensure that the quality of a small venture’s products or services remains high?How important is effective purchasing to a small business? Can the owner-manager of a small firm safely delegate purchasing authority to a subordinate? Explain.What are some examples of cash receipts that are not sales revenue? Explain how expenses and cash disbursements during a month may be different.1. What are the advantages and weaknesses of the minimum-cash-balance practice?2. There is a saying “If it ain’t broke, don’t fix it.” In view of the firm’s present success in paying bills promptly, should it be ...Describe the different sources of legal liability.
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