
Ch 8-3 Review
Authored by Morgan Keck
Life Skills
11th - 12th Grade
Used 20+ times

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55 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inventory consists of the products that a business sells to its customers and the material needed to make those products.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A startup business should initially purchase the minimum quantity of equipment and supplies needed.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Vendors are also called suppliers.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You should always choose the vendor who provides the lowest prices.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Retail, service, and manufacturing businesses must purchase inventory before they can open for business.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
For a manufacturing business, inventory is merchandise purchased with the intent of either reselling it or using it to produce the business's finished product.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A startup business should not tie up too much cash in inventory.
True
False
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