Purchase…………..is to be prepared to know what to buy, what should be the quantity, quality and price.

Related MCQs

• 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.
• Under……………… method of pricing issues, issues are valued at a price calculated by dividing the total cost of material in the stock by the total quantity of material in stock.
• Purchase manager must know the exact …………………….of materials which are used in the production.
• ……………………….guides to the purchase manager in knowing what he has to buy.
• Which is not a consideration in a make or buy decision?
• Simple average method is based on the principle that materials issues should be valued at ………… average price.
• Statement prepared to show the different elements of cost
• The document prepared on receipt of materials in store is known as
• A unit of quantity of product, service or time, in relation to which cost may be ascertained or expressed is known as .
• Purchase of right quantity of material avoids locking up of …………….