Inventory Management MCQ Questions and Answers Quiz

31. The two basic questions in inventory management are how much to order and when to order.

  1. true.
  2. false.

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

  1. true.
  2. false.

33. 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

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

  1. true.
  2. false.

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

  1. true.
  2. false.

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

  1. FOI
  2. ROP
  3. EOQ

37. Which of the following is not an inventory?

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

38. Which of the following is not an inventory?

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

39. Which of the following is true for Inventory control?

  1. Economic order quantity has minimum total cost per order
  2. Inventory carrying costs increases with quantity per order
  3. Ordering cost decreases with lo size
  4. All of the above

40. Which of the following is true for Inventory control?

  1. Economic order quantity has minimum total cost per order
  2. Inventory carrying costs increases with quantity per order
  3. Ordering cost decreases with lo size
  4. All of the above
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