The Final Hub in the Logistics Function Which Involves a Follow-Up

question 47

Multiple Choice

The final hub in the logistics function which involves a follow-up to production, where the products are inspected before they are moved to the warehouse or shipping area is referred to as:

• A)Quality control
• B)Shipping notice
• C)Purchase requisition
• D)Warehousing

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Definitions:

Warranty Liability

The obligation a company assumes when it guarantees the condition of its product and agrees to repair or replace defective products.

FICA Taxes Payable

Liabilities owed by an employer to the federal government for Federal Insurance Contributions Act taxes, typically for Social Security and Medicare.

Current Liabilities

Obligations or debts that a company is expected to pay within one year or within the normal operating cycle of the business, typically including accounts payable and short-term loans.

Bonds Payable

A financial liability representing money a company owes to bondholders, to be repaid at a specified future date.