Top 50+ Solved Elements of Cost and Cost Sheet MCQ Questions Answer
Q. The term………..refers to all commodities that are consumed in the process of production,assembly and fabricated parts
a. Labour
b. Material
c. Expenses
d. none
Q. The term……………..is defined as a system that ensures the provision of the required quantityof material of the required quality at the required time with the minimum amount of capital.
a. Material Control
b. Labour Control
c. Marketing Control
d. none
Q. ………………..purchase procedure should be installed to ensure that the purchases are madeat favourable prices.
a. Marginal
b. Standard
c. Joint
d. none
Q. The term …………….may be defined as the systematic control over the procurement ofmaterials.
a. Material control
b. Purchase control
c. Sales control
d. none
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