Is a Logical Function That Returns One Value If the Condition

question 33

Multiple Choice

is a logical function that returns one value if the condition is true and another if the condition is false.

• A) OR(condition 1, condition 2…)
• B) AND(condition 1, condition 2…)
• C) TO(value if true, value if false)
• D) IF(condition, value if true, value if false)

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Definitions:

Inventory Carrying Charge

The total cost associated with holding inventory in stock, including storage, insurance, taxes, depreciation, and opportunity costs.

Order Quantity

The number of units ordered at once from a supplier, balancing between holding costs and ordering costs to achieve optimal inventory levels.

Inventory Policy

Guidelines or rules set by a business to manage and control levels of inventory and order timings.

Service Level

A measure of the performance of a system's ability to serve customers, typically involving availability and responsiveness.