Match the Term with Its Definition

question 77

Multiple Choice

Match the term with its definition. Some terms may not be used.
-A method of controlling inventory that uses a targeted service level, allowing statistical determination of the appropriate amount of inventory to carry

• A)ABC method
• B)Associative forecasting
• C)Cooperative purchasing organization
• D)Cycle counting
• E)Demand management strategies
• F)Economic order quantity
• G)Just-in-time inventory system
• H)Perpetual inventory system
• I)Physical inventory system
• J)Poka-yoke
• K)Statistical inventory control
• L)Two-bin inventory system

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Definitions:

Accrued Interest

Interest that has accumulated over time but has not yet been paid.

Loan

An amount of money borrowed that is expected to be paid back with interest.

Days

Units of time representing 24 hours, used universally to measure time periods shorter than a week.

Investment

The action or process of allocating resources, usually money, with the expectation of generating an income or profit.