Which of the Following Statements Concerning ABC Analysis Is False

question 116

Multiple Choice

Which of the following statements concerning ABC analysis is false?

• A)Class B items typically account for 20 percent of the company's business in dollars.
• B)There are typically less class A items in stock than class B.
• C)Class C items typically account for 70 percent of the company's inventory items.
• D)Class C items tend to have more complex inventory policies than Class B items.
• E)Class B items typically account for 20 percent of the company's items in inventory.

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Definitions:

Lump Sum Payment

A large single payment made at one time, instead of spreading payments over periods, often used in settlements or financial transactions.

Labor Income

Earnings received by workers for their labor, typically from wages, salaries, or tips.

Budget Line

An illustration showing all the potential combinations of two products that someone can buy, considering their wealth and the price points of the items.

Tax Rate

The percentage at which an individual or corporation is taxed on their income or profits.