Which of the Following Is One of the Categories of Manufacturing

question 47

Multiple Choice

Which of the following is one of the categories of manufacturing inventory?

• A) Economic order inventory
• B) Work-in-process
• C) Quality units
• D) JIT inventory
• E) Reorder point

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Definitions:

Accounts Payable

Financial obligations or debts owed by a company to its creditors or suppliers for goods and services received.

Net Income

Refers to the total profit of a company after all expenses and taxes have been subtracted from revenue.

Sales Decrease

A reduction in the amount of products or services sold by a business over a given period.

Full Capacity

The highest amount of products or services a business can consistently generate during a specific timeframe under standard conditions.