Question 1
2 out of 2 points
________ is one of the elements of the total inventory
costs.
Question 2
2 out of 2 points
“F.O.B. seller” means that:
Question 3
2 out of 2 points
The primary objective of the purchasing function is to:
Question 4
2 out of 2 points
Which of the following represents the cost of the units in
the basic EOQ model?
Question 5
2 out of 2 points
When shopping for a vendor, a small business owner should
seek:
Question 6
2 out of 2 points
The reorder point model requires that the small business
owner know:
Question 7
2 out of 2 points
Many small businesses build a(n) ________, or cushion, into
their inventories in case demand runs ahead of the anticipated usage rate.
Question 8
2 out of 2 points
Holding or carrying costs include the costs of:
Question 9
2 out of 2 points
The heart of TQM is:
Question 10
2 out of 2 points
A key element to Deming’s 14 Points is:
Question 11
2 out of 2 points
Research on the implementation of TQM programs shows that it
takes ________ to completely implement a TQM program.
Question 12
2 out of 2 points
The small business gains what advantage by selling on
consignment?
Question 13
2 out of 2 points
“F.O.B. buyer” means that:
Question 14
0 out of 2 points
Small business people need to remember that:
Question 15
2 out of 2 points
The implementation of TQM can not succeed unless:
Question 16
2 out of 2 points
________ system enables business owners to track their
inventories and to place orders with vendors quickly and with few errors by
linking them to their vendors electronically.
Question 17
2 out of 2 points
Employers can reduce employee theft through:
Question 18
2 out of 2 points
Store owners and employees may apprehend and charge a
shoplifter:
Question 19
2 out of 2 points
“Just-In-Time” inventory control techniques are
most successful in what type of environment?
Question 20
2 out of 2 points
A form of inventory management used in manufacturing that
stresses a harmonious relationship with suppliers is:
Question 21
2 out of 2 points
The two-bin system and the tag system of inventory control
are best suited for items classified as ________ in ABC analysis.
Question 22
2 out of 2 points
The ________ shoplifter is often a regular customer,
well-respected individual, etc.
Question 23
2 out of 2 points
Most employee theft:
Question 24
2 out of 2 points
The purpose of ABC inventory analysis is:
Question 25
2 out of 2 points
A number of organizational factors encourage employee theft
including:
Question 26
2 out of 2 points
Which of the following is a part of the
“Just-In-Time” inventory control philosophy?
Question 27
2 out of 2 points
Effective management of inventory begins with:
Question 28
2 out of 2 points
In ABC analysis, the dollar usage value of an item is
determined by:
Question 29
2 out of 2 points
A retail version of Just-In-Time inventory control is
called:
Question 30
2 out of 2 points
________ inventory systems are designed to maintain a
running count of the items in inventory.
