In March, Chassis Prep Counts Its Inventory

question 51

Multiple Choice

In March, chassis prep counts its inventory. In June, the cabinet shop does the same thing. In September, appliances counts its inventory. This inventory system is known as

• A) cycle counting.
• B) perpetual.
• C) physical.
• D) two-bin.

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Definitions:

Negative Reciprocity

A mode of exchange in which the aim is to get something for as little as possible. Neither fair nor balanced, it may involve hard bargaining, manipulation, outright cheating, or theft.

Redistribution

A mode of exchange in which goods flow into a central place, where they are sorted, counted, and reallocated.

No Money

A condition or concept where monetary exchange is absent, and goods or services are often traded directly or provided without a need for currency.

Direct Exchange

A transaction where goods or services are traded directly between two parties without the use of money or an intermediary.