Supply Chain Management 512 Topic 1& 2

Supply Chain Management 512 Topic 1& 2

University

40 Qs

quiz-placeholder

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Supply Chain Management 512 Topic 1& 2

Supply Chain Management 512 Topic 1& 2

Assessment

Quiz

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University

Practice Problem

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Created by

Wanga Zilungile Nxitywa

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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 1. According to Investor Words (2014), inventory is defined as:

A) Only finished goods ready for sale

B) Raw materials, finished goods or merchandise which has not been sold

C) Products currently being manufactured

D) Items that have been sold but not delivered

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 2. Inventory items are classified in financial statements as:

A) Liabilities

B) Expenses

C) Assets

D) Revenue

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 3. Which direction does inventory move when it goes toward the customer?

A) Upstream

B) Downstream

C) Lateral

D) Vertical

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 4. Inventory moving upstream typically has:

A) Higher value than downstream inventory

B) Lower value than finished products

C) The same value as finished products

D) No assigned value

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 5. Cycle inventory refers to:

A) Inventory that cycles through different warehouses

B) The usual inventory kept on shelves for normal day-to-day sales

C) Inventory that expires in cycles

D) Seasonal inventory only

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 6. Safety stock is kept primarily to:

A) Reduce storage costs

B) Handle unexpected increases in demand

C) Improve product quality

D) Reduce ordering frequency

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 7. Anticipation inventory differs from safety stock because:

A) It costs less to maintain

B) It is kept when an increase in demand is expected

C) It is never used

D) It requires special storage

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