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

Related MCQs

• The cost of corrective action taken by the purchaser and chargeable to the supplier under the terms of the contract is:
• The process that may be used by an unsuccessful supplier to seek remedy for a non award of work is:
• Basic objective of the effective …………………..is to ensure continuity of supply of requisite quality of material.
• 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.
• An account payable is posted to accounting upon creation of the following document
• The document prepared on receipt of materials in store is known as
• __________ is based on information gathered and analyzed about demand and supply. this forecast provides a prediction of short and long term prices and the underlying reasons for those trends.
• Purchase of material a substantial of the company’s finance is committed which affects ………position of the company.
• …………………helps the management to eliminate inefficiencies caused by material wastage, use of obsolete machinery, improper planning etc.
• The cost of direct material is termed as…………..