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Which of the following statements are true in the context of a just in time (JIT) inventory system?
1. “It works best if supplies are obtained from a number of different suppliers”
– This answer is wrong. Could you why?
Why have you headed up this thread ‘standard costing’?
Given the need for suppliers who deliver on time and deliver good quality, and the contracts that are needed to ensure this, the fewer suppliers normally the better.