Top 150+ Solved Cost and Works Accounting 1 MCQ Questions Answer
Q. The organisation of the purchase department depends on the…………..of the organisationand its likely quantum of purchase.
a. Size
b. Number of managers
c. Number of workers
d. none
Q. ……………………is the head of the purchase department.
a. Sales Manager
b. Purchase Manager
c. Marketing Manager
d. none
Q. Purchase…………..is to be prepared to know what to buy, what should be the quantity,quality and price.
a. requisition
b. order
c. budget
d. none
Q. One of the objective of …………….is to avoid under and overstocking of material.
a. Scientific Purchasing
b. Purchasing
c. Sales control
d. none
Q. The…………….must maintain a proper classified record of all purchases, uses and stock ofmaterials.
a. Costing officer
b. Purchase manager
c. stores clerk
d. none
Q. ………………………..is an element of material control
a. Purchase Control
b. Material Control
c. Cost Control
d. none
Q. Purchase of material a substantial of the company’s finance is committed which affects………position of the company.
a. Cash flow
b. Fund Flow
c. Balance – Sheet
d. none
Q. Purchase of right quantity of material avoids locking up of …………….
a. Working Capital
b. Current assets
c. Reserves and Surplus
d. none
Q. Effective purchase control prevents wastage and losses of material right from the purchasefrom their ……………….
a. Consumption
b. Wastage
c. Storage
d. none
Q. Purchase Control enables the management to reduce………..
a. cost of production
b. Cost of material
c. Cost of goods sold
d. none
Q. effective purchase control fixes the responsibilities of……………….
a. Operating Units
b. Purchase Unit
c. Cost Unit
d. none
Q. Basic objective of the effective …………………..is to ensure continuity of supply of requisite quality of material.
a. Purchase Control
b. Responsible Centre
c. Cost Centre
d. none
Q. ……………….is specialized activity frequently carried on by a separate department under thecontrol of buyer or purchasing officer.
a. Purchasing
b. Selling
c. Costing
d. none
Q. The …………………………will in all his activities carry out the policy of his organization withregard o buying
a. Purchasing Officer
b. General Manager
c. Head of the department
d. none
Q. ………………………….is of extreme importance particularly to a manufacturing concern.
a. Purchasing
b. Selling
c. Costing
d. none