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Q. …………………helps the management to eliminate inefficiencies caused by material wastage, use of obsolete machinery, improper planning etc.

Q. A bilateral RFP is preferred to an invitation to bid when:

Q. Weighted average method is same as:

Q. Purchase order is a legal binding contract only if it is

Q. The average stock level is………….. units if the maximum stock level is 2475 units and the minimum stock level is 855 units.

Q. The…………….must maintain a proper classified record of all purchases, uses and stock of materials.

Q. The Purchase…………….is a contractual document which authorizes the supplier to supply the material.

Q. costing is suitable for mines, quarries, cement works etc.

Q. Marginal costing is also known as ………………….. costing

Q. The term………..refers to all commodities that are consumed in the process of production, assembly and fabricated parts