GATE ME 2022 Set 1 — Question 22

MCQ+1 / -0.33EasyInventory ControlIndustrial Engineering

Industrial Engineering → Inventory Control

Last updated 5 September 2026

Question

Which one of the following is NOT a form of inventory?

Correct answer (D) CNC Milling Machines Solution Inventory refers to the goods and materials that a business holds for the ultimate goal of resale or production. Standard forms of inventory include: 1. Raw materials : Basic materials used in the production process. 2. Work-in-process (WIP) materials : Partially finished goods awaiting completion. 3. Finished goods : Completed products ready for sale. CNC Milling Machines are capital assets (fixed assets) used as equipment in the manufacturing process. They are not intended to be sold or consumed as part of the inventory in the normal course of business. Turn this into a strength. Explore AI-powered practice and doubt support with Success Tracker.

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Correct answer (D) CNC Milling Machines Solution Inventory refers to the goods and materials that a business holds for the ultimate goal of resale or production. Standard forms of inventory include: 1. Raw materials : Basic materials used in the production process. 2. Work-in-process (WIP) materials : Partially finished goods awaiting completion. 3. Finished goods : Completed products ready for sale. CNC Milling Machines are capital assets (fixed assets) used as equipment in the manufacturing process. They are not intended to be sold or consumed as part of the inventory in the normal course of business.

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