___________ are those goods which have been purchased and stored for future productions.a.spare partsb.finished goodsc.whipd.raw material
Question
___________ are those goods which have been purchased and stored for future productions.
a. spare parts
b. finished goods
c. whip
d. raw material
Solution
The correct answer is a. spare parts.
Spare parts are goods that have been purchased and stored for future use, particularly in the maintenance and repair of machinery or equipment. They are not intended for direct sale but are essential for ensuring that production processes can continue without interruption.
In contrast:
- b. finished goods are completed products ready for sale.
- c. whip (Work in Progress) refers to partially completed products in the manufacturing process.
- d. raw materials are the basic materials used to produce goods but are not stored specifically for future production.
Therefore, when considering goods stored for future production needs, spare parts fit this definition best.
Similar Questions
__________ are the goods which have been committed to production but the finished goods have not yet been produceda.WIPb.raw materialsc.toolsd.spare parts
What is inventory?Raw materials, finished goods and work-in-progress available for sale Services rendered to customers
Consumer goods are classified into raw materials, materials and parts, capital goods, and operating services.Group of answer choicesTrueFalse
What are materials used in production in a manufacturing company or are placed on the shelf for sale in a retail environment.
Manufacturing company converts raw materials and purchased parts into work in process inventory.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.