Identify the Activity in the Value Chain That Involves Receiving

question 28

Multiple Choice

Identify the activity in the value chain that involves receiving and handling of raw materials and other inputs to the product.

• A)inbound logistics
• B)procurement
• C)manufacturing
• D)outbound logistics

---

Definitions:

Lower Of Cost

A principle in accounting that dictates inventory or other assets should be reported at the lower amount between its historical cost and its market value.

Major Categories

Broad, overarching groups or classes into which items, ideas, or phenomena are classified based on shared characteristics or attributes.

Inventory Items

Goods or products that a business holds for the purpose of sale or production, including raw materials, work-in-progress, and finished goods.

Periodic Inventory System

An inventory accounting method where inventory and cost of goods sold are determined at the end of an accounting period based on a physical count.