INTRODUCTION TO SOFTWARE ENGINEERING
AGILE SOFTWARE DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The acronym WIP stands for?
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Worth in performance
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Work in progress
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Waste in process
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Work is progressing
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Explanation:
Detailed explanation-1: -Work in progress (WIP), also called work in process, is inventory that has begun the manufacturing process and is no longer included in raw materials inventory, but is not yet a completed product. On a balance sheet, work in progress is considered to be an asset because money has been spent towards a completed product.
Detailed explanation-2: -CIP (Clean-in-Place), WIP (Wash-in-Place) and SIP (Sterilization-in-Place)
Detailed explanation-3: -Work in progress, also known as work in process, is usually measured and categorized as a current asset or a long-term asset on a company’s balance sheet, depending on how the asset will be used.
There is 1 question to complete.