When Issuing Inventory,what Are the Correct Abbreviations and Definitions for the Distribution

question 12

Multiple Choice

When issuing inventory,what are the correct abbreviations and definitions for the distribution of inventory to production?

• A) LILO means Last in, Last out and FIFO means First in, First Out
• B) LIFO means Last in, First out and FIFO means First in, First Out
• C) FILO means First in, Last Out and FIFO means First in, First Out
• D) FILO means First in, Last Out and LILO means Last in, Last Out

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Definitions:

Anglo-Dutch War

A series of 17th and 18th-century conflicts between England (later Great Britain) and the Dutch Republic over trade dominance and maritime control.

Colonial Expansion

Colonial expansion involves the process by which a nation extends its sovereignty over territories beyond its borders, often through conquest or colonization, for various motives including economic gain and cultural spread.

Duke of York

A title traditionally bestowed upon the second son of the British monarch. The title has a lengthy history and has been held by various members of the British royal family.

Colonial Slave Trade

The trade in enslaved people, especially between the 16th and 19th centuries, that involved their forced migration from Africa to the colonial Americas.