Question

the threat of mistakes in counting re sufficient quantity on hand to 42) Which of the following controls can minimize the threat of mistakes inventory? A) The use of positive pay. B) Do not inform receiving employees about quantity ordered. C) The use of ERS D) Perpetual inventory system. 43) The traditional approach to inventory management to ensure sufficient quant maintain production is known as A) safety stock. B) just-in-time production. C) economic order quantity. D) optimal inventory quantity. 44) The specifies the point at which inventory is needed. A) company inventory policies B) reorder point C) economic order quantity D) stockout point 45) Just-In-Time (JIT) inventory is best characterized by A) frequent deliveries of large quantities to be held at the work centers. B) frequent deliveries of smaller quantities of items to the work centers. C) less frequent deliveries of large quantities of goods to central receiving. D) infrequent bulk deliveries of items directly to work centers. 46) Which of the following is least likely to be a major criterion in vendor selection? A) prices of goods B) credit rating of the vendor C) quality of goods D) ability to deliver on time 47) Duc An Incorporated provides free coffee to employees. Starbucks delivers coffee packages sugar, creamer, and filters each week. Every month, Starbucks sends Due An an invoice. This arrangement is best described as a A) set purchase order. B) fixed purchase order. C) blanket purchase order. 2) standard purchase order. B) What is the best control to mitigate the threat of paying prices that are too high for good dered? Require the receiving department to verify the existence of a valid purchase order. Use only approved suppliers and solicit competitive bids. Only pay invoices that are supported by the original voucher package.

Answer 1

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42	Perpetual Inventory System	Option D
43	Safety Stock	Option A
44	Reorder point	Option B
45	Frequent deliveries of smaller quantities of items to work centers.	Option B
46	Credit rating of vendor	Option B
47	Fixed Purchase Order	Option B
48	Use only approved suppliers and solicit competitive bids.	Option B