1. A System that keeps track of each withdrawal or addition to inventory continuously is.
A. A perpetual inventory system.
B. A fixed quantity system.
C. A continuous inventory system.
D. A fixed period system.
2. Which of the following is NOT a type of inventory?
A. Finished goods
C. Raw material
3. MPS stands for:
A. Master Production Schedule
B. Master Planning System
C. Material Planning System
D. Material Production Schedule
4. Enterprise Resource Planning (ERP) is.
A. Severely limited by current MRP computer systems
B. Not related to MRP
C. An advanced MRP II system that ties-in customers and suppliers
D. Not currently practical
5. MRP stands for:
A. Manufacturing Resource Planning
B. Master Resources Production
C. Management Reaction Planning
D. Materials Requirements Planning
Answers: 1 (A), 2 (B), 3 (A), 4 (A), 5 (D)
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