Among the Advantages of Cycle Counting Is That It

question 184

Multiple Choice

Among the advantages of cycle counting is that it:

• A) makes the annual physical inventory more acceptable to management.
• B) does not require the detailed records necessary when annual physical inventory is used.
• C) does not require highly trained people.
• D) allows more rapid identification of errors and consequent remedial action than is possible with annual physical inventory.
• E) does not need to be performed for less expensive items.

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Definitions:

Utility Function

A mathematical representation of how a consumer ranks different bundles of goods based on their level of satisfaction.

Corn Chips

Snack foods made from cornmeal and fried or baked in oil.

Corn Chips

Snack food made from cornmeal fried or baked in oil, often seasoned, known for their crunchiness and popular as a party snack.

French Fries

Sliced potatoes that are deep-fried until golden brown and are often served as a side dish.