In ABC Inventory Analysis,C Items Typically Represent About 15 Percent

question 34

True/False

In ABC inventory analysis,C items typically represent about 15 percent of the number of items but 80 percent of the usage.

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Definitions:

Debit Column

The Debit Column is the left-hand side of an account record in double-entry bookkeeping, used to record increases in asset, expense, and loss accounts, and decreases in liability, equity, and revenue accounts.

General Journal

A primary accounting record used to document all financial transactions in chronological order.

Services Provided

Activities performed by a company or individual for the benefit or use of another party, typically in exchange for compensation.

Debit

An entry on the left side of an account ledger, indicating an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.