Which of the Following Is Also Called Inventory Control

question 32

Multiple Choice

Which of the following is also called inventory control?

• A) Technology control
• B) Purchasing management
• C) Procurement
• D) Materials control
• E) Quality control

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Definitions:

Allowance

An accounting adjustment that reduces the value of an asset or increases a liability to reflect probable future costs.

Net Credit Sales

The total revenue from sales made on credit, minus any returns or allowances, reflecting the actual credit sales revenue generated by a business.

Uncollectible Accounts

Accounts receivable that are unlikely to be paid by customers and are considered bad debts.

Cash Realizable Value

The amount of cash expected to be received from assets or receivables after accounting for discounts or allowances.