What Is a Schematic Diagram of the Sequence of Steps

question 124

Multiple Choice

What is a schematic diagram of the sequence of steps involved in an operation or process?

• A) Checklist
• B) Control chart
• C) Scatter diagram
• D) Flow chart
• E) Process chart

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Definitions:

Consignment Stock

Inventory that is in the possession of the customer but still legally owned by the supplier until sold.

Stock Discrepancies

Differences between the amount of inventory recorded and the actual inventory present, often resulting from errors or theft.

Periodic Inventories

An inventory system where the inventory count is conducted at specific intervals to determine the cost of goods sold and ending inventory levels.

Closing Inventories

The total value of unsold goods and materials that a company holds at the end of its financial year, which is recorded as a current asset in the balance sheet.