CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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APICS Certified Supply Chain Professional CSCP new Practice Questions 2023 - Part 82
1. The purpose of Incotermsֲ® is to establish common:
A) software system terminology between supply chain partners.
B) contracts for trade within the supply chain.
C) company communication channels within the supply chain.
D) quality measures for use in the supply chain.
2. Which of the following statements about warehouse layout and storage is correct?
A) Product weight is the major factor driving warehouse layout.
B) Products with low volume are typically placed at the lower level in storage racks.
C) Warehouses that utilize fixed locations storage typically minimize space requirements.
D) A typical warehouse is engaged in a combination of short term and extended storage alternatives.
3. Replacing a raw material in a manufacturing process with an alternate material that reduces emissions is an example of using:
A) the global reporting initiative (GRI).
B) recycling.
C) rework.
D) life cycle assessment (LCA).
4. When determining lot sizes, consideration should be given to balancing which of the following costs?
A) Quality costs and product costs
B) Cost of goods sold (COGS) and indirect labor costs
C) Unit sales price and unit cost
D) Ordering costs and carrying costs
5. Which of the following documents includes the valuation of goods for assessment of duties?
A) Insurance certificate
B) Export declaration
C) Bill of landing (B/L)
D) Commercial invoice
A) software system terminology between supply chain partners.
B) contracts for trade within the supply chain.
C) company communication channels within the supply chain.
D) quality measures for use in the supply chain.
2. Which of the following statements about warehouse layout and storage is correct?
A) Product weight is the major factor driving warehouse layout.
B) Products with low volume are typically placed at the lower level in storage racks.
C) Warehouses that utilize fixed locations storage typically minimize space requirements.
D) A typical warehouse is engaged in a combination of short term and extended storage alternatives.
3. Replacing a raw material in a manufacturing process with an alternate material that reduces emissions is an example of using:
A) the global reporting initiative (GRI).
B) recycling.
C) rework.
D) life cycle assessment (LCA).
4. When determining lot sizes, consideration should be given to balancing which of the following costs?
A) Quality costs and product costs
B) Cost of goods sold (COGS) and indirect labor costs
C) Unit sales price and unit cost
D) Ordering costs and carrying costs
5. Which of the following documents includes the valuation of goods for assessment of duties?
A) Insurance certificate
B) Export declaration
C) Bill of landing (B/L)
D) Commercial invoice
1. Right Answer: B
Explanation:
2. Right Answer: D
Explanation:
3. Right Answer: B
Explanation:
4. Right Answer: C
Explanation:
5. Right Answer: D
Explanation: The commercial invoice states the value of the goods in the shipment and specifies payment terms and methods. It constitutes the seller's and buyer's invoice for the transaction. It also may be required for the letter of credit and by other entities that need to know the value of the goods for insurance or the assessment of duties. The information required and the language it's written in may vary from country to country.
Explanation:
2. Right Answer: D
Explanation:
3. Right Answer: B
Explanation:
4. Right Answer: C
Explanation:
5. Right Answer: D
Explanation: The commercial invoice states the value of the goods in the shipment and specifies payment terms and methods. It constitutes the seller's and buyer's invoice for the transaction. It also may be required for the letter of credit and by other entities that need to know the value of the goods for insurance or the assessment of duties. The information required and the language it's written in may vary from country to country.
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