Material Cost MCQ | Cost Accounting (Free Resource)

21. Purchase Requisition is a _________ of material.
a) Requirement
b) Purchase return
c) Supply
d) None of the above

22. __________ shows movement of each item of material.
a) Delivery material
b) Stores ledger
c) Supplier ledger
d) None of the above

23. Material control includes control over ________ .
a) Inventory control
b) Material
c) Control over labour
d) Control over overheads

24. Under _________ stock is verified at the end of a certain period.
a) Continuosly
b) Certain period
c) Periodic Inventory
d) None of the above

25. Under _________ stock is verified continuously.
a) ABC Analysis
b) Bill of Material
c) Perpetual Inventory system
d) None of the above

26. _________ is a technique of selective control.
a) Perpetual Inventory system
b) Bill of Material
c) ABC Analysis
d) None of the above

27. _________ helpful for calculation of the cost of material of a job.
a) Bill of Material
b) Supply of Material
c) Requirement of Material
d) None of the above

28. Material Inspection Note is _________.
a) prepared and forwarded to the Stores Department
b) Signed by the store keeper
c) Signed by the supplier
d) Signed by production manager

29. Bin Card is _________ .
a) A inspection note
b) A continuous record of stock stored
c) A statement of delivery of materials
d) A statement of issue of material

30. ABC Analysis is ________ .
a) analysis of A, B and C type of material
b) a technique of selective control.
c) a technique under which control is always best.
d) none of the above

Answer: 21) Requirement 22) Stores ledger 23) Material 24) Periodic Inventory 25) Perpetual Inventory system 26) ABC Analysis 27) Bill of Material 28) prepared and forwarded to the Stores Department 29) a continous record of stock stored 30) a technique of selective control