COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Stockouts is synonymous with surplus.
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TRUE
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FALSE
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Explanation:
Detailed explanation-1: -not available for sale or use. “too many items are out of stock” Synonyms: unavailable. not available or accessible or at hand.
Detailed explanation-2: -synonyms: excess, nimiety, surplusage. type of: overabundance, overmuch, overmuchness, superabundance. a quantity that is more than what is appropriate.
Detailed explanation-3: -Stockouts are what happen when you run out of inventory of a particular item. An out-of-stock can happen anywhere in the supply chain, but it impacts retailers’ shelves and profits the most when it occurs as the customer is about to purchase.
Detailed explanation-4: -Stockouts are the opposite of overstocks, where too much inventory is retained.
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