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Q. ………. is the cost incurred in the part has no effect on future decision making

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

Q. The cost that remains unchanged in spite of change in volume of production is known as………….

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

Q. Direct…………..enter the product and form a part of finished product.

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

Q. Consumables are treated as……………overheads in cost sheet.

Q. …………..is the system of costing under which costs are determined after they have been incurred.

Q. …………is an extension of job costing.

Q. The term……………..is defined as a system that ensures the provision of the required quantity of material of the required quality at the required time with the minimum amount of capital.