CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

A technique for processing jobs on a first-come, first-served basis is known as.

A
FAX
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
FIFO
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
GIGO cable
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Optical mark reader
No worries! We‘ve got your back. Try BYJU‘S free classes today!
E
None of the above
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is D FIFO

A technique for processing jobs on a first-come, first-served basis is known as FIFO.

The phrase is often but erroneously stated as "first come, first serve" (instead of "served"). This is an error because "come" is grammatically functioning as a past participle, as it does in the sentence, "They are come." The phrase abbreviates the sentence "The first come is the first served."

FIFO is the acronym for First-In, First-Out. FIFO is a cost flow assumption often used to remove costs from the Inventory account when an item in inventory had been purchased at varying costs. Under FIFO, the oldest cost of an item in inventory will be removed first when one of those items is sold.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Special Journal
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon