Which of the Following Is an Approach to Inventory Management

question 22

Multiple Choice

Which of the following is an approach to inventory management that recognizes that different items have different values and levels of importance?

• A)Bin system
• B)Can-order system
• C)RFID system
• D)ABC system
• E)One-for-one system

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Definitions:

Long-term Notes Payable

Debt obligations with a repayment period extending beyond one year, used usually for significant purchases or investments.

Accounts Receivable

Company receivables from goods or services provided to customers, pending payment.

Inventory

The sum of all goods, materials, and finished products held by a company for the purpose of sale in the regular course of business.

Statement of Cash Flows

A financial statement that shows the cash inflows and outflows of a company over a specific period of time, helping to assess its liquidity, solvency, and financial flexibility.