Take this quick test on inventory management to help you prepare for your exams and interviews. This test is especially useful for accounting and finance students. The multiple choice question (MCQ) quiz has 10 questions with 4 potential answers each. Once you complete this short quiz, you should be able to perform well in any related exam or interview. 1. Average inventory Normal maximum inventory Absolute maximum inventory Order point See answer 2. Order point Safety stock EQO EOQ None of the above See answer 3. Clerical and administrative costs of purchasing, accounting, and goods reception Transportation costs Unloading costs None of the above See answer 4. Storage charges (rent, lighting, heating, etc.) Material handling costs Stores staffing, equipment, maintenance, and running costs Transportation costs See answer 5. EOQ Wastage inventory Safety stock Ordering point Minimum level See answer 6. $4,460 $4,340 $4,620 $3,500 See answer 7. $13,280 $18,960 $18,760 $19,580 See answer 8. $57,000 $68,950 $68,800 $70,000 See answer 9. A B C D See answer 10. $1,110 $1,010 $900 $1,125 See answer View Results Next Quiz: Budgeting MCQs Inventory Management - MCQs FAQs What factors should be considered when making decisions in accounting? When making decisions in accounting, it is essential to consider all relevant factors. Some of the factors that may be considered include the company’s financial position, Cash Flow, profitability, and business strategy. What are some common accounting decisions? In accounting, decision-making is the process of choosing between two or more courses of action to achieve the desired outcome. Factors that should be considered when making decisions include the company’s financial position, Cash Flow, profitability, and business strategy. Accountants use the information to make decisions by analyzing data and trends to make informed decisions to help the company achieve its goals. How do accountants make decisions? Accountants use the information to make decisions by analyzing data and trends. This information can come from Financial Statements, internal reports, surveys, and other sources. By analyzing this data, accountants can make informed decisions to help the company achieve its goals. What are some common accounting decision-making models? Common accounting decision-making models include the rational decision model, the incremental decision model, and the satisficing decision model. Each of these models has its own set of steps that should be followed when deciding. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
Take this quick test on inventory management to help you prepare for your exams and interviews. This test is especially useful for accounting and finance students. The multiple choice question (MCQ) quiz has 10 questions with 4 potential answers each. Once you complete this short quiz, you should be able to perform well in any related exam or interview. 1. Average inventory Normal maximum inventory Absolute maximum inventory Order point See answer 2. Order point Safety stock EQO EOQ None of the above See answer 3. Clerical and administrative costs of purchasing, accounting, and goods reception Transportation costs Unloading costs None of the above See answer 4. Storage charges (rent, lighting, heating, etc.) Material handling costs Stores staffing, equipment, maintenance, and running costs Transportation costs See answer 5. EOQ Wastage inventory Safety stock Ordering point Minimum level See answer 6. $4,460 $4,340 $4,620 $3,500 See answer 7. $13,280 $18,960 $18,760 $19,580 See answer 8. $57,000 $68,950 $68,800 $70,000 See answer 9. A B C D See answer 10. $1,110 $1,010 $900 $1,125 See answer View Results