Match the Term with Its Definition

question 126

Multiple Choice

Match the term with its definition. Some terms may not be used.
-A method of reducing inventory carrying costs by making or buying what is needed just as it is needed

• 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:

Special Order

An order for goods or services that is not part of a company's regular offerings and is often customized or produced in a limited quantity.

Minimum Selling Price

The lowest price at which a business is willing to sell its products or services, often determined to cover costs or meet a specific profit threshold.

Avoidable Cost

Expenses that can be eliminated if a particular decision or action is not taken.

Split-Off Point

The stage in a production process where different products become physically identifiable, and their costs can be separately assigned.