Using the ABC Classification System for Inventory, Which of the Following

question 33

Multiple Choice

Using the ABC classification system for inventory, which of the following is a true statement?

• A) The "C" items are of moderate dollar volume
• B) You should allocate about 50% of the dollar volume to "B" items
• C) The "A" items are of low dollar volume
• D) The "A" items are of high dollar volume
• E) Inexpensive and low usage items are classified as "C" no matter how critical

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Definitions:

Five Major Banks

A term often used to refer to the five largest banks in a particular country, which usually hold significant market share within the national financial system.

Division Of Labour

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

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Connections or interactions between individuals or groups, influencing the way societies form and individuals' positions within them.

Scientific Management

A management theory focused on improving efficiency and productivity through systematic study and analysis of work processes.