Cost Accounting

M

Mr. Dubey • 51.17K Points
Coach

Q 61. Bin card is maintained by:

(A) Personnel Manager
(B) Store-keeper
(C) Cost Accountant
(D) Accountant
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M

Mr. Dubey • 51.17K Points
Coach

Q 62. Stores Ledger:

(A) makes a record of quantities only
(B) is maintained by the storekeeper
(C) is usually kept inside the stores
(D) makes a record of both quantities and values
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M

Mr. Dubey • 51.17K Points
Coach

Q 63. In which method of material issues, production is charged at the recent prices?

(A) LIFO
(B) Simple Average
(C) FIFO
(D) Base Stock
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M

Mr. Dubey • 51.17K Points
Coach

Q 64. The purchase requisition is generally prepared in:

(A) Duplicate
(B) Triplicate
(C) Quadruplicate
(D) Five copies
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M

Mr. Dubey • 51.17K Points
Coach

Q 65. Economic order quantity is:

(A) The maximum quantity
(B) The minimum quantity
(C) The most economic order quantity
(D) None of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 66. The original copy of the purchase order is sent to:

(A) The receiving department
(B) The person who initiated the purchase requisition
(C) The supplier
(D) The accounting department
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M

Mr. Dubey • 51.17K Points
Coach

Q 67. Which of the following is not direct material?

(A) Raw material
(B) Primary packing material
(C) Consumable stores
(D) Parts or components specifically purchased
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M

Mr. Dubey • 51.17K Points
Coach

Q 68. A request sent to the purchasing department of a need for materials is called a:

(A) Purchase requisition
(B) Purchase order
(C) Inspection note
(D) None of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 69. If re-ordering level is 450 units while consumption of materials are 25-27 units and materials are received within 4-6 weeks, the minimum level will be

(A) 100 units
(B) 200 units
(C) 150 units
(D) 250 units
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M

Mr. Dubey • 51.17K Points
Coach

Q 70. The practice of purchasing where all purchase functions is done through one department only.

(A) Centralised Purchasing
(B) Decentralised Purchasing
(C) Just-in-time Purchasing
(D) Single Purchasing
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