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Q. The optimum level of inventory is popularly referred to as the ………..

Q. Machine hour rate in the cost of running a machine

Q. ………………….. Cost per unit does not change with change in activity level

Q. Which of the following is not a function of purchasing management?

Q. The cost of insurance and taxes are included in

Q. In the formula of Economic Order Quantity, the alphabet ‘O’ stands for………….

Q. A purchasing operation does not contain this classification of work?

Q. If WIP opening stock is 10,000 units, work done in the period is 13,000 and WIP closing stock is 5,000 units. The equivalent completed unit during the period is:

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

Q. The receipt of…………….is the first step in purchase procedure.