A-LevelAccountingCosting / Inventory ManagementFeb/Mar 2024Paper 1 Q231 Mark
Which statements describe just in time (JIT) management of inventory? 1 It increases administration costs as more suppliers are required. 2 It is a management strategy that minimises inventory to increase efficiency. 3 Producers hold only sufficient inventory to meet maximum market demand. 4 The system benefits cash flow and reduces the amount of capital required to run the business.
A1 and 2
B1, 3 and 4
C2, 3 and 4
D3 and 4 only
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of costing / inventory management within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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