Certification of Pharmacy Technicians (ExCPT) Practice Exam

A list of the goods or items a business will use in its normal operation is called a:

1. Open formulary

2. Closed formulary

3. Inventory

4. Protocol

The correct answer is: Inventory

The correct answer is "C. Inventory" because inventory refers to the complete list of goods or items that a business utilizes in its everyday operations. This includes all materials, products, and supplies that the business keeps on hand to maintain its functions. Effective inventory management is crucial for ensuring that a business can meet demand without overstocking, which can tie up capital and resources unnecessarily. In contrast, an open formulary allows a range of medications to be prescribed and may not be related to the physical goods in stock. A closed formulary, similarly, restricts the medications that can be prescribed to a specific list but does not denote the operational supplies. Protocols are established procedures or guidelines for performing specific tasks within the business and do not represent a list of goods or items used in operations. Thus, inventory accurately captures the essence of maintaining a catalog of essential items for business activities.