The…………….must maintain a proper classified record of all purchases, uses and stock of materials.

Related MCQs

• The average stock level is………….. units if the maximum stock level is 2475 units and the minimum stock level is 855 units.
• …………………….is a buffer stock level or safety stock level under which the stock should not be allowed to fall.
• 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:
• ‘Buffer stock’ is the level of stock
• 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 procedure should be installed to ensure that the purchases are made at favourable prices.
• The ………………include all types of expenses other than direct materials and direct labour which are incurred for a particular product or job.
• ……………….is a master requisition which lists all the materials required for the completion of a job.
• Proper classification and codification of various items in stores is essential for efficient…………….. .
• …………………is a record of both quantities and values.