Answer These Questions Correctly!

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Answer These Questions Correctly!

1. What is meant by ‘terms of trade’?


2. List five examples of different types of inventory.
3. Identify which personnel may be involved in stock control duties.
4. What are the seven component parts of the full control cycle for which control procedures
should be produced?
5. What is the difference between a delivery docket, invoice and statement?
6. Identify some sources you could use to improve your product knowledge.
7. When dealing with suppliers; what is the difference between a wholesaler and a retailer?
8. What is a ‘vendor file’?
9. Product specifications would take into account what key points?
10. Explain contract buying.

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