Question

Q5: When the issue is less than their receipts this will lead to a situation where:

Select one:

a. More Inventory

b. None of the above

c. Shortage of Inventory

d. Zero Inventory

Q6: The items which are discarded from a production process are known as:

Select one:

a. Inventory

b. Repaired items

c. Rejected items

d. Spare parts

Q7: The items required to produce a product or deliver a service is known as:

Select one:

a. Rejected items

b. Repaired items

c. Spare parts

d. Inventory

Answer 1

Q5: When the issue is less than their receipts this will lead to a situation where:

Select one:

a. More Inventory

b. None of the above

c. Shortage of Inventory

d. Zero Inventory

Correct Answer is Shortage of Inventory

Explanation- Receipts are the documents that serve as proof of delivery of products and Inventory Shortage determines the amount by which the retail value of the inventory as indicated by a report is less than the Retail Book Inventory. Inventory shortage happens when there are fewer items on hand than your reports indicate. Hence when the issue/number is less than their receipts/releases, this will lead to a shortage of inventory.

Q6: The items which are discarded from a production process are known as:

Select one:

a. Inventory

b. Repaired items

c. Rejected items

d. Spare parts

Correct Answer is – Rejected items

Explanation- Discarded items are those items that are no longer useful for the production process and are also called as Rejected items.

Q7: The items required to produce a product or deliver a service is known as:

Select one:

a. Rejected items

b. Repaired items

c. Spare parts

d. Inventory

Correct Answer is Spare parts

Explanation-A spare part, service part, repair part, or replacement part, is an interchangeable element that is stored in an inventory and used for the restoration or replacement of failed units. Repaired items can also be in the list of spare parts. Hence the most suitable answer here is Spare parts.