$1.$ Select the correct answer.

$1\mathrm{.}1.$How would you describe the inventory that inventory management focuses on$?$ i$.$ The

stock of products, materials and supplies carried by a business organisation for the

purpose of: ii$.$ Sale to satisfy outside customer demand. iii. Functioning of the

business such as stationary, printing paper and cartridges. iv$.$ Providing inputs for in$-$

house production. v$.$ Providing refreshments to employees. $(1)$

$($a$)$ i$,$ ii$,$ iii, iv$,$ v

$($b$)$ i$,$ iii, iv

$($c$)$ i$,$ iii, iv$,$ v

$($d$)$ i$,$ ii$,$ iv

$($e$)$ i$,$ iv$,$ v

$1\mathrm{.}2.$Which ONE of the following is NOT one of the reasons why organisations carry

inventory? $(1)$

$($a$)$ To act as a buffer$/$hedge against uncertainties.

$($b$)$ To outline the different costs associated with inventory.

$($c$)$ To make use of the Economies of Scale principle.

$($d$)$ To take advantage of price discounts on bulk buying.