The Department of Defense

question 44

Multiple Choice

The Department of Defense

• A) is smaller than the State Department.
• B) was created in 1947, to gather all military activities under one department secretary.
• C) is headed by the military joint chiefs of staff.
• D) has consistently grown in size under every president.
• E) is staffed entirely by uniformed personnel.

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Definitions:

Safety Stocks

Extra inventory kept to prevent stockouts and ensure adequate supply in the face of demand or supply variability.

Restocking Costs

Expenses associated with replenishing inventory, including purchasing, shipping, and handling costs.

Collection Policy

The set of guidelines a company uses to monitor and manage the collection of accounts receivable or owed debts.

Receivables Policy

A set of guidelines a company follows to manage its accounts receivable, including credit terms, collection methods, and credit limits.