Among Different Types of Costs Associated with Inventory, Four Categories

question 74

Multiple Choice

Among different types of costs associated with inventory, four categories of quality costs are ________.

• A) control costs, inspection costs, internal failure costs, and external failure costs
• B) prevention costs, inspection costs, internal failure costs, and external failure costs
• C) prevention costs, appraisal costs, internal failure costs, and external failure costs
• D) prevention costs, control costs, internal failure costs, and external failure costs

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Definitions:

Purchasing Manager

A professional responsible for overseeing the acquisition of goods and services for their organization, ensuring both quality and cost-effectiveness.

Supplier Performance

It involves evaluating the efficiency and effectiveness of a supplier in terms of product quality, delivery timeliness, and cost management.

Purchasing Manager

A professional responsible for sourcing goods and services for a company, negotiating contracts, and managing supply chain relations.

Appropriate Suppliers

Vendors or providers that meet specific criteria for quality, reliability, and ethical standards, suitable for a business's needs.