In a _____, When Inventory Is Depleted to a Given

question 23

Multiple Choice

In a _____, when inventory is depleted to a given level, the system notifies the materials control department (or the buyer in some organizations) to issue a request to a supplier for inventory replenishment.

• A)reorder point system
• B)traveling purchase requisition system
• C)customer service system
• D)forecasting system
• E)just-in-time system

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Definitions:

Straight-Line Method

A way of calculating depreciation by evenly spreading the cost of an asset over its useful life.

Resale Value

The projected value at which an asset can be disposed of after its life of usability has ended.

Office Furniture

Items and fixtures used in an office setting to support various work activities and tasks, such as desks, chairs, and file cabinets.

Resale Value

The estimated market value of an asset if sold again in the future, often considered for vehicles, electronics, and properties.