Inventory Management Quiz Question with Answer


31. Use of the fixed-interval model requires having a perpetual inventory system.

  1. true.
  2. false.

32. Using the basic EOQ model, if the ordering cost doubles, the order quantity will be

  1. double its former value
  2. about 50% of its former value
  3. about 71% of its former value
  4. unaffected

33. Using the EOQ model, if an items holding cost increases, its order quantity will decrease.

  1. true.
  2. false.

34. When using EOQ ordering, the order quantity must be computed in every order cycle.

  1. true.
  2. false.

35. Which model does not take into account the amount of inventory on hand?

  1. FOI
  2. ROP
  3. EOQ

36. Which of the following is not an inventory?

  1. Machines
  2. Raw material
  3. Finished products
  4. Consumable tools

37. Which of the following is not an inventory?

  1. Machines
  2. Raw material
  3. Finished products
  4. Consumable tools

38. Buffer stock is the level of stock

  1. Half of the actual stock
  2. At which the ordering process should start
  3. Minimum stock level below which actual stock should not fall
  4. Maximum stock in inventory

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