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Which of the following is the correct statement about total ordering cost?
Which of the following is the correct statement about total ordering cost?A . Rise as the average stock level risesB . Equal the number of orders placed times the cost of placing an orderC . Rise as the order quantity risesD . Fall with the per period usage rateView AnswerAnswer:...
P2P system
P2P systemA . 2 and 3 onlyB . 1 and 3 onlyC . 2 and 4 onlyD . 1 and 4 onlyView AnswerAnswer: D Explanation: There are several methods to reduce the acquisition costs in procurement. L4M7 study guide lists the following methods: - Buyer discretionary spend - 'User buying'...
Bulk loose coal that requires massive handling system should be stored in which area?
Bulk loose coal that requires massive handling system should be stored in which area?A . Chill hubB . StockyardC . Heating warehouseD . StoreView AnswerAnswer: B Explanation: Materials that will not easily deteriorate, are generally stored in open or fairly covered areas (stockyard). The materials are usually in bulk, like...
Which one of the following statements is true about radio frequency identification (RFID)?
Which one of the following statements is true about radio frequency identification (RFID)?A . RFID tags require laser scanning.B . A passive RFID tag does not use an antennaC . An active RFID tag does not require a power sourceD . Normally passive RFID tags store ID numbersView AnswerAnswer: D...
Which type of codes can a barcode laser scanner (linear scanner) read?
Which type of codes can a barcode laser scanner (linear scanner) read?A . Numerical codeB . QR codeC . Aztec codeD . 1D barcodeView AnswerAnswer: D Explanation: One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spacings of parallel lines. These include some of the most traditional...
Which of the following is a forecasting technique?
Which of the following is a forecasting technique?A . LIFOB . Moving averageC . Time-weighted seriesD . ABC analysisView AnswerAnswer: B Explanation: Last in, first out (LIFO) is a method used to account for inventory that records the most recently produced items as sold first. Under LIFO, the cost of...
“A measure of the ability of an organisation to supply customers without delay” is the best defini-tion of which of the following:
“A measure of the ability of an organisation to supply customers without delay” is the best defini-tion of which of the following:A . Re-order levelB . Service levelC . Key performance indicatorD . Safety stockView AnswerAnswer: B Explanation: In inventory management, service level is the expected probability of not hitting...
MRP software is applied to schedule which of the following?
MRP software is applied to schedule which of the following?A . Tax accountingB . Production processesC . Human resource managementD . Executive meetingsView AnswerAnswer: B Explanation: Material Requirements Planning (MRP) software manages material requirements for manufacturing processes. LO 2, AC 2.3
The amount of inventory available at the start of an accounting period is known as...?
The amount of inventory available at the start of an accounting period is known as...?A . Buffer stockB . Work-in-progressC . Opening stockD . Closing stockView AnswerAnswer: C Explanation: Opening stock is the starting amount of inventory that a business has at a fixed moment in time. This could be...
Which costs in the following list are categorised as operation costs in the total cost of ownership model? Select TWO that apply.
Which costs in the following list are categorised as operation costs in the total cost of ownership model? Select TWO that apply.A . Decommissioning costsB . Costs of any person who operates the equipmentC . Installation and configuration costsD . Delivery costsE . Costs of consumablesView AnswerAnswer: B, E Explanation:...
