In the A-B-C Classification System, Items Which Account for Sixty

question 22

Multiple Choice

In the A-B-C classification system, items which account for sixty percent of the total dollar-volume for few inventory items would be classified as:

• A)A items
• B)B items
• C)C items
• D)A items plus B items
• E)B items plus C items

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Definitions:

Negotiable

Capable of being transferred or converted into goods, services, or money under terms agreeable to the involved parties.

Payable To Order

A clause on a financial document that specifies who can receive the payment, allowing the initial payee to endorse it over to another party.

Payable To Bearer

Payable to bearer describes a financial instrument, such as a check or bond, that is payable to the holder or presenter of the document, rather than a specific individual.

Issued

Pertains to the official distribution or release of something, such as a document, currency, or product.