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Question 1

The amount of inventory available at the start of an accounting period is known as...?

Options :

A : Closing stock

B : Buffer stock

C : Opening stock

D : Work-in-progress

Answer: C

Question 2

GAP Ltd is a growing retail business. It spends a lot of money on buying stock for sale. However, the procurement process is still largely manual. This manual process contains a lot of tasks that are repeated for each procurement event and time consuming. The company management team decides to adopt procure-to-pay (P2P) software in order to eliminate duplicate activities and improve process efficiencies. Which type of cost is GAP targeting?

Options :

A : Holding costs

B : Cost of stockouts

C : Acquisition costs

D : Disposal costs

Answer: C

Question 3

A hospital is purchasing a new software product that will advise nurses when to give medications to hospitalised patients. This is a mobile application that will be used on tablets carried by the nurses. The software is being developed and tested by a company that specialises in mobile medical applications. This software will interface with existing hospital software that orders the medications from the pharmacy. Which acceptance test activity will be required to check whether the new software integrates well with current IT system?

Options :

A : Compatibility testing

B : Health and safety testing

C : Dry running

D : Stress testing

Answer: A

Question 4

What does MRP software schedule?

Options :

A : Human resource management

B : Tax accounting

C : Executive meetings

D : Production processes

Answer: D

Question 5

Which of the following can replace pallets as bases for unit loads but they require push pull accessories to retrieve or discharge unit load?

Options :

A : Skids

B : Shrink wraps

C : Post pallets

D : Slip sheets

Answer: D