13.2 Match the terms in the left coluran with their appropriate definition in the right column.TermsDefinitions1. Economic order quantity(EOQ)a. A document that creates a legal obligationto buy and pay for goods or services2. Materials requirementsplanning (MRP)b. The method used to maintain the cashbalance in the petty cash account c. The time to reorder inventory triggeredwhen the quantity on hand falls to apredetermined level3. Just-in-time (JIT) inven-tory system4. Purchase requisitiond. A document used to authorize a reductionin accounts payable because merchandisehas been returmed to a supplier5. Imprest fundc. An inventory control system that triggersproduction based upon actual salesf. An inventory control system thattriggers production based on forecastedsales6. Purchase order7. Kickbacksg. A document used only internally to initi-ate the purchase of materials, supplies, orservices8. Procurement cardh A process for approving supplier invoicesbased on a two-way match of the receiv-ing report and purchase orderi A process for approving supplier invoicesbased on a three-way match of the pur-chase order, recerving report, and supplierinvoice1. A method of maintaining accounts pay-able in which cach supplier invoice istracked and paid for separately9. Blanket purchase order10. Evaluated receipts settle-ment (ERS)11. Disbursement voucherk A method of maintaining accountspayable that generates one check topay for a set of invoices from the samesupplier1. Combination of a purchase order, receiv-ing report, and supplier invoice that allrelate to the same transaction12. Receiving report13. Debit memom. A document used to list each invoice be-ing paid by a checkn. An inventory control system that seeks tominimize the sum of ordering, carrying,and stockout costs14. Vendor-managed inventory15. Voucher packageo. A system whereby suppliers are grantedaccess to point-of-sale (POS)) and inven-tory data in order to automatically replen-ish inventory levelsP. An agreement to purchase set quanti-ties at specificd intervals fronu a specificsupplierq. A document used to record the quanti-ties and condition of items delivered by asupplier16. Nonvoucher system17. Voucher systemr. A special-purpose credit card used to pur-chase suppliess. A fraud in which a supplier pays a buyeror purchasing agent in order to sell itsproducts or services

1.n 2.f 3.e 4.g 5.b 6.a 7.s 8.r

Answered: Match the terms in the lefi coluhn with…

Business

Operations Management

Match the terms in the lefi coluhn with their appropriate definition in the right column.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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