The Use,where Possible,of Uniform Components in the Production Process Is

question 185

Multiple Choice

The use,where possible,of uniform components in the production process is

• A) uniform component control.
• B) optimized inventory control.
• C) component management.
• D) standardization.
• E) component optimization.

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Definitions:

Perpetual Inventory

A system of accounting for inventory that records the sale or purchase of inventory immediately through computerized systems.

Periodic Inventory

An accounting method where inventory is physically counted at specific intervals to determine the cost of goods sold and ending inventory.

Transactions

The act of buying, selling, or exchanging goods, services, or financial assets in the business world.

Inventory

The total of all goods and materials held by a business for the purpose of resale, production, or use in operations.