The practice of purchasing where all purchase functions is done through one department only.

Related MCQs

• The purchasing system where there is a separate purchasing department entrusted with the task of making all purchases is called
• A formal request by the Head of Department or an authorised officer to the purchase manager to the purchase manager to purchase specified materials.
• A request sent to the purchasing department of a need for materials is called a:
• Under step method of re-apportionment of costs of service departments, the cost of last service department is apportioned only to the …………..
• Recording time for attendance purpose and for calculation of wages is done through
• PP Ltd is preparing the production and material purchase budgets for one of their products, The SUPERX for the forthcoming year. The following information is available: Sales demand (units) 30000 Material usage per unit 7 kgs Estimated opening inventory 3500 units Required closing inventory 35% higher than opening inventory How many units of the SUPERX will need to be produced?
• Basis of apportionment of welfare department expenses is…………..
• A record of both quantities & values maintained by the costing department is called:
• The process of distribution of overheads allotted to a particular department or cost center over the units produced is called:
• If an item of overhead expenditure is charged specifically to a single department this would be an example of: