Cost and Works Accounting 1 MCQs and Notes

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Cost and Works Accounting 1

Mr. Dubey • 51.17K Points
Coach

Q 1. Purchase Budget has an impact on

(A) Profitability of the company

(B) Materials Budget of the company

(D) All of these

Mr. Dubey • 51.17K Points
Coach

Q 2. “Hedging” technique is used

(A) When there is an organized commodity market

(B) Where large quantities of a particular commodity are bought and sold

(D) None of these

Mr. Dubey • 51.17K Points
Coach

Q 3. JIT contributed to the

(A) Reduced inventories and WIP

(B) Reduced suppliers and vendors

(D) Reduced manpower planning

Mr. Dubey • 51.17K Points
Coach

Q 4. The objective(s) of forward purchasing is / are

(A) To guard against interruption in supply

(B) To economize the use of storage space

(D) All of these

Mr. Dubey • 51.17K Points
Coach

Q 5. The purchase order form is designed by

(A) Materials Manager

(B) Purchase Manager

(D) None of them

Mr. Dubey • 51.17K Points
Coach

Q 6. Which of the following is not a function of purchasing management?

(A) Selecting the source

(B) Placement of purchase order

(D) None of these

Mr. Dubey • 51.17K Points
Coach

Q 7. Which one of the following is not included in the 5 R in purchasing?

(A) Quality

(B) Quantity

(D) None of these

Mr. Dubey • 51.17K Points
Coach

Q 8. A bilateral RFP is preferred to an invitation to bid when:

(A) Supplier and terms are specified

(B) The product or service is relatively low value and readily available

(D) The product or service has high value, but is easy to obtain

Mr. Dubey • 51.17K Points
Coach

Q 9. Definitive contract terms are spelled out in the:

(A) Pre-award phase

(B) Award phase

(D) Purchasing phase

Mr. Dubey • 51.17K Points
Coach

Q 10. The contract is signed at the end of the:

(A) Pre-award phase

(B) Award phase

(D) Award cycle

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Cost and Works Accounting 1

Q 1. Purchase Budget has an impact on

Q 2. “Hedging” technique is used

Q 3. JIT contributed to the

Q 4. The objective(s) of forward purchasing is / are

Q 5. The purchase order form is designed by

Q 6. Which of the following is not a function of purchasing management?

Q 7. Which one of the following is not included in the 5 R in purchasing?

Q 8. A bilateral RFP is preferred to an invitation to bid when:

Q 9. Definitive contract terms are spelled out in the:

Q 10. The contract is signed at the end of the:

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