An Inventory Planning System That Schedules the Precise Quantity of Materials

question 25

Multiple Choice

An inventory planning system that schedules the precise quantity of materials needed to make a product is called:

• A)succession planning.
• B)material-requirements planning.
• C)benchmarking.
• D)flexible scheduling.
• E)capacity-requirements planning.

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Definitions:

Paid-In Capital

The total amount of capital that shareholders have directly invested in a company through the purchase of its securities.

Retained Earnings

The portion of net income that is retained by the corporation rather than distributed to its shareholders as dividends.

Organizational Expenses

Costs incurred during the formation of a company, such as legal fees, registration fees, and promotional expenses.

Intangible Assets

Non-physical assets possessed by a company, such as patents, trademarks, and goodwill, that have value and can produce future economic benefits.