L4M7 exam

Which of the following is a forecasting technique?A . LIFOB . Moving averageC . Time-weighted seriesD . ABC analysisView AnswerAnswer: B Explanation: Last in, first out (LIFO) is a method used to account for inventory that records the most recently produced items as sold first. Under LIFO, the cost of...

A brewery sells its beer in aluminum cans. It recycles the cans by using contractors to collect and mold the used cans. This is an example of...?A . Closed-loop recyclingB . Carbon recyclingC . Open-loop recyclingD . ReuseView AnswerAnswer: A Explanation: There are two main processes of recycling C open...

Which of the following correctly describes the triple bottom line?A . Professional, Planet, ProfitB . People, Planet, ProjectC . People, Product, ProfitD . People, Planet, ProfitView AnswerAnswer: D Explanation: The triple bottom line is a sustainability framework that examines a company’s social, environment, and economic impact (or People, Planet, Profit)....

To test the product durabilityA . 1 and 2 onlyB . 3 and 4 onlyC . 2 and 3 onlyD . 1 and 4 onlyView AnswerAnswer: C Explanation: It would be really convenient if we could just hand our products directly to the customers, but that’s not possible. Packaging needs...

To test the product durabilityA . 1 and 2 onlyB . 3 and 4 onlyC . 2 and 3 onlyD . 1 and 4 onlyView AnswerAnswer: C Explanation: It would be really convenient if we could just hand our products directly to the customers, but that’s not possible. Packaging needs...

Which of the following is the minimum aisle width for using standard counterbalanced forklifts?A . 4.9 ft - 5.2 ftB . 5.6 ft - 5.9 ftC . 6.9 ft - 7.2 ftD . 10.5 ft - 13.1 ftView AnswerAnswer: D Explanation: Minimum open aisle width for standard counterbalance forklift is...

The amount of inventory available at the start of an accounting period is known as...?A . Buffer stockB . Work-in-progressC . Opening stockD . Closing stockView AnswerAnswer: C Explanation: Opening stock is the starting amount of inventory that a business has at a fixed moment in time. This could be...

Which of the following best defines ‘exponential moving average’?A . A forecasting technique where the average is calculated by dividing the sum of the val-ues by the number of valuesB . A process by which the reorder of an item is triggered by the inventory level dropping to a predetermined...

Which of the following best describes the relationship between a service level and safety stock? A. A safety stock is not always required to achieve a required service level B. A service level decreases in proportion to a decrease in safety stock C. When safety stock is zero the service...

An organisation always obtains negative cash flow regarding removal and disposal of assets. Is this statement true?A . No, the organisation may recover the value of the assets by reselling itB . Yes, the organisation incurs high maintenance cost during the disposal processesC . Yes, some assets require enormous decommissioning...