Inventory Types Quiz

Quiz
•
Business
•
12th Grade
•
Hard
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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