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Inventory Management Quiz

Authored by ZIRWATUL (PSP)

Business

2nd Grade

Used 1+ times

Inventory Management Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of inventory?

Only raw materials

Stock of any item or resources

Only services

Only finished goods

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a type of inventory?

Only finished products

Only services

Only cash

Raw Material

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does cycle stock refer to?

Stock that is in transit

Stock that is obsolete

Stock that is dead

Stock replenished regularly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is safety stock used for?

To donate

To sell below cost

To increase prices

To cover unpredictable demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of inventory is built up before peak seasonal demand?

Cycle Stock

In-Transit Inventory

Dead Stock

Seasonal Stock

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of inventory management?

To ensure right quantity and time

To increase prices

To avoid stockouts only

To reduce customer satisfaction

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is in-transit inventory?

Goods that are obsolete

Goods being transported

Goods that are not owned

Goods that are sold

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