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APICS CPIM Exam
Certified in Production and Inventory Management (Page 7 )

Updated On: 30-Jan-2026
Page 7 of 119
PDF with 588 Questions

Control is exercised through individual items in a particular inventory, this is called:

  1. Inventory element
  2. Stock-keeping units
  3. Stock entity
  4. Inventory corps

Answer(s): B



The annual cost and effort expended in ______________ depends on the number of orders placed, not on the quantity ordered.

  1. Capacity control
  2. Production control
  3. Purchase order cost
  4. Set-up control

Answer(s): B



Something that has value and is expected to benefit the future operation of the business is known as:

  1. Revenues
  2. Business Plan
  3. Asset
  4. Sales

Answer(s): C



Owner's equity is:

  1. Difference between revenues and expenses
  2. Difference between expenses and liabilities
  3. Difference between assets and revenues
  4. Difference between assets and liabilities

Answer(s): D



The formula to calculate the Inventory turns is:

  1. Inventory turns = average cost of goods sold / annual inventory in dollars
  2. Inventory turns = annual cost of goods purchased / average financial measures in dollars
  3. Inventory turns = annual cost of goods sold / average inventory in dollars
  4. Inventory turns = annual cost of goods sold * average inventory in dollars

Answer(s): C



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