Which of the Following Statements Is/are Correct

question 7

Multiple Choice

Which of the following statements is/are correct?
i. The economic order quantity determines the optimum order size for individual inventory items.
ii. The economic order quantity cannot be used in a manufacturing organisation.
iii. The economic order quantity minimises the sum of the ordering and carrying costs.

• A) i
• B) ii
• C) i and iii
• D) All of the given answers

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Definitions:

Event Schema

Cognitive structures that represent knowledge about events, including their typical sequence and components, helping individuals understand and predict their experiences in various situations.

Multiple Intelligences

A theory that suggests people have different kinds of intelligences, including linguistic, logical-mathematical, spatial, and others.

Interpersonal

Pertaining to the relationships or interactions between individuals.

Variability

The measure of how much data points in a set differ from the average or mean value.