What Is the Term for the Situation in Which a Company

question 34

Multiple Choice

What is the term for the situation in which a company does not have enough inventory available to fill an order?

• A)put-away
• B)obsolete inventory
• C)stockout
• D)overrun
• E)shortage

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Definitions:

Adjusted Cash Balance

The cash balance recorded in accounting books after considering outstanding checks and deposits in transit, ensuring it matches the actual bank balance.

Check Register

A record book or electronic log used to track checks written, deposits made, and current account balances.

Bank Statement

A document or electronic record issued by a bank summarizing a customer's transactions and current balance over a specific period.

Service Charge

A fee collected for services rendered, typically added to a bill in sectors like banking, hospitality, or dining.