Which Statement Concerning Inventory Is Not True

question 59

Multiple Choice

Which statement concerning inventory is not true?

• A)Regular physical stocktakes are part of the efficient management of inventory.
• B)Electronic point of sale systems greatly assist in the management of inventory.
• C)All categories of inventory should always be subject to the same degree of control.
• D)None of the above, i.e., all are true statements.

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Definitions:

Opportunity Costs

The loss of potential gain from other alternatives when one alternative is chosen, representing the cost of forgone options.

Goods And Services

The physical items (goods) and activities (services) that satisfy human wants or needs and are available for purchase.

Resources

Materials, money, staff, and other assets that can be drawn on by a person or organization in order to function effectively.

Self-Interested

Behavior driven by personal gain, where individuals act in their own benefit, often leading to markets that work efficiently through the aggregate effects of such behavior.