Inventory Types Quiz

Inventory Types Quiz

12th Grade

10 Qs

quiz-placeholder

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Inventory Types Quiz

Inventory Types Quiz

Assessment

Quiz

Business

12th Grade

Hard

Created by

Dorota Kuźniewska

Used 2+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are raw materials in inventory?

Materials used directly in finished goods

Materials used indirectly in overhead costs

Materials used in maintenance and repair

Materials used in work-in-process inventory

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is considered as work-in-process inventory?

Finished goods ready for sale

Materials used directly in finished goods

Materials used indirectly in overhead costs

Materials being worked on in production

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which inventory type includes products ready to be sold?

Raw materials

Work-in-process

Finished goods

Maintenance, Repair, and Overhaul

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does MRO inventory stand for?

Maintenance, Repair, and Overhaul

Materials used directly in finished goods

Materials used indirectly in overhead costs

Materials being worked on in production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of MRO inventory?

Pre-packaged fruit salad

Custom-built laptop

Gloves for packaging

Monogrammed bathrobe

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the process of converting raw materials into finished goods?

Inventory Management

Production

Procurement

Supply Chain Management

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of inventory is considered as goods that are in the process of being manufactured but are not yet finished?

Raw materials

Work-in-process

Finished goods

Maintenance, Repair, and Overhaul

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