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Views: 25
Words: 651
Pages: 3
Category: Business and Industry
Date Submitted: 03/23/2015 05:41 PM
Question 1 | | 1 / 1 point |
Which of the following is not one of the four main types of inventory?
Question options:
| A) | safety stock inventory |
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| B) | finished goods inventory |
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| C) | work-in-progress inventory |
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| D) | maintenance/repair/operating supply inventory |
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| E) | raw material inventory |
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Question 2 | | 1 / 1 point |
Which of the following would not generally be a motive for a firm to hold inventories?
Question options:
| A) | to take advantage of quantity discounts |
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| B) | to minimize holding costs |
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| C) | to eliminate safety stock |
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| D) | to provide a stock of goods that will provide a selection for customers |
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| E) | to decouple or separate parts of the production process |
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Question 3 | | 1 / 1 point |
ABC analysis is based upon the principle that
Question options:
| A) | more time should be spent on class "C" items because there are more of them. |
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| B) | as with grade distribution in many MBA courses, there should be more medium-level "B" items than either "A" or "C" items. |
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| C) | all items in inventory must be monitored very closely. |
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| D) | there are usually a few critical items, and many items which are less critical. |
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| E) | an item is critical if its usage is high. |
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Question 4 | | 1 / 1 point |
Cycle counting
Question options:
| A) | provides a measure of inventory turnover. |
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| B) | assumes that all inventory records must be verified with the same frequency. |
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| C) | assumes that the most frequently used items must be counted more frequently. |
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| D) | provides a measure of inventory accuracy. |
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| E) | is a process by which inventory records are verified once a year. |
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Question 5 | | 1 / 1 point |
The two most basic inventory questions answered by the typical inventory model are
Question options:
| A) | timing and cost of...