In an ABC System of Inventory Control,________ Is (Are)the Measure

question 91

Multiple Choice

In an ABC system of inventory control,________ is (are) the measure of the relative importance of an item in the company's inventory.

• A)dollar usage value
• B)carrying costs
• C)set-up costs
• D)optimum inventory level

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Definitions:

Contract

A legally-binding agreement between two or more parties that outlines obligations and benefits for each party.

Acceptance

An act signifying agreement to the terms of an offer, thus creating a binding contract.

Terminate

To bring something to an end or halt its operations or effectiveness.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, designed to harmonize the law of sales and other commercial transactions.