Inventory Management Quizzes, Questions & Answers

Top Trending Quizzes

Sale Of Goods On Approval Or Return Basis

This quiz assesses understanding of sales on approval or return basis, focusing on accounting treatments and balance sheet presentations. It evaluates skills in calculating cost implications and profit margins in scenarios where...

Questions: 15 | Attempts: 426 | Last updated: Mar 20, 2023

Sample Question
A sent some goods costing Rs. 3,500 at a profit of 25% on sale to B on sale or return basis. B returned goods costing Rs. 800. At the end of the accounting period i.e. on 31st December, 2005, the remaining goods were neither returned nor were approved by him. The stock on approval will be shown in the balance sheet at Rs.

2,000.

2,700.

2,700 less 25% of 2,700

3,500

Business Quiz: Inventory Management- II

This Business Quiz: Inventory Management-II assesses understanding of stockkeeping units, economic order quantities, and safety stock. It explores how inventory costs are influenced by order quantities, ideal for learners in...

Questions: 10 | Attempts: 382 | Last updated: Oct 1, 2024

Sample Question
Which of the following statements best describes stockkeeping units?

Sodas in a 6-pack and 12-pack are the same SKU because the cans are the same SKU

White shirts of different sizes but in the same size box are the same SKU

Wires of different gauges that are stocked in reels are the same SKU

Two white shirts in the same inventory but of different sizes or styles would be different SKUs

Pharm Tech Chapter 13 (Inventory Management)

- Inventory Management, - Inventory Systems, - Computers And nventory, - Ordering, - Stocking And Storing

Questions: 42 | Attempts: 1943 | Last updated: Sep 1, 2023

Sample Question
A system that allows purchase of any medication that is prescribed.

Automated dispensing system

Closed formulary

Inventory

Open formulary

Multiple Choice Quiz Inventory Methods

This Multiple Choice Quiz focuses on inventory methods, assessing knowledge in FIFO, LIFO, and cost calculations under different systems. It is designed for learners to understand cost flow assumptions and their impact on...

Questions: 5 | Attempts: 1425 | Last updated: Mar 22, 2023

Sample Question
The inventory costing method that is based on the assumption that cost should be charged against revenue in the order in which they were incurred.

Fifo

Lifo

Average cost

Inventory Management Quiz Questions

Do you know about inventory management? We have designed this quiz to test your knowledge regarding the basics of inventory management and its related concepts. If you think you have a good understanding of this subject, then...

Questions: 21 | Attempts: 6787 | Last updated: May 1, 2023

Sample Question
Materials management is defined as the

Management and control of inventory

management and control of services, inventory, and equipment

control of materials purchased

control of the amount of materials used for patient care

Recent Quizzes

CPIM Software Trivia Quiz

Do you want to be certified in production and inventory management, there are lists of software that can help you prepare for your CPIM Certification. Supply chain management is an integral part of any company, and we've put...

Questions: 10 | Attempts: 156 | Last updated: Mar 21, 2023

Sample Question
What is the disadvantage of the push system?

It makes stocking decisions centrally

Inventory is sent where it is most needed

The coordination is more expensive than the pull system

Inventory is not sent where needed most

Initial Order & Inventory Management

Initial order & inventory management

This quiz on 'Initial order & inventory management' assesses knowledge on managing initial cookie orders, including required documentation, order deadlines, and proper identification for cookie pickup. It is essential for...

Questions: 5 | Attempts: 604 | Last updated: Mar 20, 2023

Sample Question
What is the PGA to earn the initial order reward?

270 boxes

150 boxes

135 boxes

125 boxes

V7.0-04 - Parts And Purchasing With Mc V7.0

v7.0-04 - Parts and Purchasing with MC v7.0

Explore the new features and enhancements in MC v7.0, focusing on Multi-Bin, Part Checkout, and Rotating Parts management. This quiz assesses understanding of parts location, inventory reordering, and integration with work...

Questions: 10 | Attempts: 71 | Last updated: Jun 21, 2024

Sample Question
The new Multi-Bin feature in MC v7.0 allows for duplicate Part Location records, which are specified with different Bins.

True

False

CDC 2s071 Volume 2 -- 2015

CDC 2S071 Volume 2 -- 2015

This quiz, titled 'CDC 2S071 Volume 2 -- 2015', assesses knowledge on MICAP cause and delete codes in Air Force logistics. It covers topics such as stock replenishment standards, base stock decisions, and lateral support,...

Questions: 50 | Attempts: 85 | Last updated: Jun 27, 2024

Sample Question
(201) What mission capable (MICAP) cause code indicates past recurring demand or reparable generation experience but Air Force stockage policy precluded establishment of a demand-based stock level?

A

B

C

D

P02 - Managing Parts Using Stockrooms

P02 - Managing Parts Using Stockrooms focuses on understanding the storage and management of parts in multiple stockrooms, including inventory tracking, reorder points, and types of inventory. This quiz assesses knowledge on part...

Questions: 10 | Attempts: 774 | Last updated: Mar 22, 2023

Sample Question
The Vendor's tab of an Inventory Part stores the Stock Room(s)s where the selected Part is located.

True

False

Stock Control In A Supermarket

Stock Control in a Supermarket

Explore the essentials of stock control in supermarkets, focusing on automated systems for reordering, benefits of stock management, and inventory tracking. Enhance your understanding of how technology optimizes retail operations...

Questions: 6 | Attempts: 99 | Last updated: Jul 12, 2023

Sample Question
What happens when the stock is less that the minimum level?

The system automatically reorders from the supplier

The manager is notified

Accounting Test 2 Practice

This practice quiz for 'Accounting Test 2' focuses on inventory systems, including periodic and perpetual systems, and their impacts on financial statements. It assesses understanding of inventory management, cost of goods sold,...

Questions: 27 | Attempts: 151 | Last updated: Mar 21, 2023

Sample Question
Which of the following businesses is most likely to use a periodic inventory system?

A beer bar

An aircraft manufacturer

A supermarket that is part of a national chain

An independently owned art gallery with a manual account system

What Not To Sell

Test your knowledge of our purchase criteria prior to packing your bag. Remember we can only pay you for the items which meet our standards! If you need a refresher on our purchase criteria, you can find them...

Questions: 10 | Attempts: 102 | Last updated: Mar 20, 2023

Sample Question
This item does not meet our purchase criteria. Please select the reason why.

Bobbling

Heavy Wear

Staining

Phones Review: Chapter 4

This quiz titled 'Phones Review: Chapter 4' assesses knowledge on inventory management, specifically focusing on back order processes. It covers when to charge customers, shipping logistics for mixed orders, and clarifies...

Questions: 17 | Attempts: 129 | Last updated: May 15, 2024

Sample Question
If an order has 4 items total and 1 is on back order with a "product hold" highlighted, the in-stock items will ship automatically.

True

False

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True or False Quiz Inventory Costing Methods under a Perpetual Inventory System

Questions: 5 | Attempts: 1445 | Last updated: Mar 22, 2023

Sample Question
Using fifo, costs are included in the merchandise sold in the order in which they were incurred

False

True

Physical Inventory - Policies & Procedures

The purpose of this quiz is to help all levels of store management develop a deeper understanding of the physical inventory process. Each store with an upcoming inventory should have all levels of management, from store manager...

Questions: 20 | Attempts: 1276 | Last updated: Jul 26, 2023

Sample Question
Prior to the arrival of the inventory service, the freezer and deli backstock must be pre-counted and listed on a sheet to hand the inventory service supervisor.

True

False

Accounting 202: MCQ Quiz Exam!

Dive into 'Accounting 202: MCQ Exam' to master journal entries for various accounting scenarios, including marketing expenses, job completions, sales, and labor costs. This quiz enhances understanding of inventory and cost...

Questions: 11 | Attempts: 830 | Last updated: Mar 22, 2023

Sample Question
The journal entry needed to record the receipt of a bill from the company’s marketing agency would include a:

Debit to manufacturing overhead

Debit to marketing expenses

Debit to work in process inventory

Credit to work in process inventory

Inventory Management Quizzes, Questions & Answers

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