Material Management - 10

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Select The Blank

  Question        Conformance to ________ is checked against component drawings.

  Correct Answer        Dimensions

  Your Answer     Dimensions

 

 

 Multiple Choice Single Answer

  Question        The inventories which refer to the maintenance, repair and operation supplies which are consumed during process of manufacturing but do not become part of the product is :-

  Correct Answer        MRO inventories

  Your Answer     MRO inventories

 

 

 True/False

  Question        Import substitution in reality should be looked upon as "Import avoidance"

  Correct Answer        True

  Your Answer     True

 

 

 True/False

  Question        Deterioration & Obsolescence cost are similar.

  Correct Answer        False

  Your Answer     True

 

 

 Select The Blank

  Question        Customs duty is charged on the imported goods as per ________.

  Correct Answer        Customs tariff rules

  Your Answer     Customs tariff rules

 

 

 Multiple Choice Multiple Answer

  Question        In a contract buyer has right to :-

  Correct Answer        Examine the goods , Reject the goods delivered in wrong quantity , Reject non conforming goods

  Your Answer     Examine the goods , Reject the goods delivered in wrong quantity , Sue for interest of buyer

 

 

 Select The Blank

  Question        ________ of the department refers to the placement of the department in the structure of the company.

  Correct Answer        Status

  Your Answer     Location

 

 

 True/False

  Question        Purchasing policies are implemented by framing procedures and rules.

  Correct Answer        True

  Your Answer     True

 

 

 True/False

  Question        Black bituminous paint should be applied to rubber parts.

  Correct Answer        False

  Your Answer     False

 

 

 Multiple Choice Single Answer

  Question        Pending purchases indent report :-

  Correct Answer        Highlights indents yet to be converted in to purchase-orders

  Your Answer     Highlights indents yet to be converted in to purchase-orders

 

 

 Multiple Choice Multiple Answer

  Question        Correct issues must have :-

  Correct Answer        Written requisitions , Authorized requisitions

  Your Answer     Written requisitions , Authorized requisitions , Name of requisitor

 

 

 Multiple Choice Multiple Answer

  Question        The following are the actions would help to improve effectiveness of materials planning :-

  Correct Answer        Accurate forecasting , Computerization , Shorter materials plan period

  Your Answer     Accurate forecasting , Computerization , Increase in lead time

 

 

 Select The Blank

  Question        Systematic, formal and continuous analysis of all factors affect ________ management function is known as Materials research.

  Correct Answer        Materials

  Your Answer     Materials

 

 

 True/False

  Question        OEM discount is given by the supplier with a view to widen customer's base.

  Correct Answer        True

  Your Answer     False

 

 

 Multiple Choice Single Answer

  Question        A buyer gives wrong idea to his supplier about his requirements or show a fictitious figure to get some price discount is called as :-

  Correct Answer        Misrepresentation of facts

  Your Answer     Misrepresentation of facts

 

 

 Multiple Choice Multiple Answer

  Question        Purchasing and procurement cost reduction is possible through :-

  Correct Answer        Blanket orders , Green purchasing , System contracting

  Your Answer     Blanket orders , Green purchasing , System contracting

 

 

 Select The Blank

  Question        ________ department in almost all companies is the biggest spending department and the custodian of company's purse.

  Correct Answer        Purchasing

  Your Answer     Purchasing

 

 

 Select The Blank

  Question        ________ find their use in identification of raw materials, lubricants, pipelines etc.

  Correct Answer        Colour codes

  Your Answer     Colour codes

 

 

 Select The Blank

  Question        ________ is a complex combination of men, machines, materials and tools.

  Correct Answer        Manufacturing

  Your Answer     Operation

 

 

 Multiple Choice Single Answer

  Question        What is the meaning of storekeeping?

  Correct Answer        Physical storage of goods under custodianship in a systematic manner

  Your Answer     Physical storage of goods under custodianship in a systematic manner

 

 

 True/False

  Question        Value analysis is the cost reduction technique.

  Correct Answer        True

  Your Answer     True

 

 

 Multiple Choice Single Answer

  Question        Competitive price information must be treated as confidential and should not be disclosed to the bidders with an intention of allowing them to rebid is :-

  Correct Answer        Improprieties of bids

  Your Answer     Improprieties of bids

 

 

 Match The Following

Question    Correct Answer    Your Answer

 

JE    Journal Entries   Journal Entries

 

PO    Purchase order    Purchase order

 

GRN   Goods receipt note      Goods receipt note

 

DN    Discrepancy note. Discrepancy note.

 

 

 

 Multiple Choice Single Answer

  Question        Traffic division is concerned with :-

  Correct Answer        Arrangement of eco. Transportation of incoming and outgoing materials

  Your Answer     Arrangement of eco. Transportation of incoming and outgoing materials

 

 

 Multiple Choice Single Answer

  Question        Issue of stock is :-

  Correct Answer        Process of reacting by stores

  Your Answer     Process of reacting by stores

 

 

 True/False

  Question        Cancellation of orders on flimsy ground is unethical.

  Correct Answer        True

  Your Answer     True

 

 

 Select The Blank

  Question        Systematic ________of stores is the key to its efficient operation.

  Correct Answer        Layout

  Your Answer     Layout

 

 

 Multiple Choice Single Answer

  Question        Foreign trade is controlled by Government for :-

  Correct Answer        Promoting export &controlling import

  Your Answer     Promoting export &controlling import

 

 

 Multiple Choice Multiple Answer

  Question        In review system-optional replenishment :-

  Correct Answer        Reorder level is fixed , Review period is fixed

  Your Answer     Review period is fixed , Reorder level is fixed

 

 

 Multiple Choice Multiple Answer

  Question        The receiving stores copy is used by it :-

  Correct Answer        To ensure that supplier effects supply of only items ordered on him. , To ensure that supplier does not supply more than the quantity stipulated in the purchase order. , To ensure that the supplier effect deliveries through the mode of transport asked for by the buyer.

  Your Answer     To ensure that supplier does not supply more than the quantity stipulated in the purchase order.

 

 

 True/False

  Question        A company wishing to use preferred numbers must decide first the smallest size to be made, then largest size to be made and then the total no. of sizes to be made.

  Correct Answer        True

  Your Answer     False

 

 

 Multiple Choice Single Answer

  Question        Finished goods means :-

  Correct Answer        Goods which are ready to ship

  Your Answer     Goods which are ready to ship

 

 

 True/False

  Question        JIT purchasing is indirectly the activity of pushing inventory on the suppliers.

  Correct Answer        True

  Your Answer     True

 

 

 Multiple Choice Multiple Answer

  Question        Quantity discounts are offered when :-

  Correct Answer        Buyer tempts to produce large quantity , Production is higher & cost is less

  Your Answer     Buyer tempts to produce large quantity , Production is higher & cost is less

 

 

 Multiple Choice Multiple Answer

  Question        Advantages of fixed price agreements are :-

  Correct Answer        They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations

  Your Answer     They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations

 

 

 Select The Blank

  Question        Originating department of daily material receipt report is ________.

  Correct Answer        Receiving store

  Your Answer     Receiving store

 

 

 Select The Blank

  Question        ________ is the arrangement of items into groups according to a pre determined pattern.

  Correct Answer        Classification

  Your Answer     Classification

 

 

 Multiple Choice Multiple Answer

  Question        Main information in the bill of material is :-

  Correct Answer        Part no. , Material specification , Quantity per assembly

  Your Answer     Part no. , Material specification , Quantity per assembly

 

 

 Match The Following

Question    Correct Answer    Your Answer

 

LC    Labour cost as considered at the time of contract     Labour cost as considered at the time of contract

 

MA    Actual material cost as on date.    Actual material cost as on date.

 

MC    Material cost as considered at the time of contract   Material cost as considered at the time of contract

 

LA    Actual labour cost as on date Actual labour cost as on date

 

 

 

 Multiple Choice Single Answer

  Question        Heat is :-

  Correct Answer        An physical agent

  Your Answer     An physical agent

 

 

 Multiple Choice Single Answer

  Question        A formal request to the purchase department, by the indentor to procure the items mentioned therein and within the indicated time schedule is :-

  Correct Answer        Purchase indent

  Your Answer     Purchase indent

 

 

 True/False

  Question        Coal and coke gas used for power generation and process heating are direct materials.

  Correct Answer        False

  Your Answer     True

 

 

 Select The Blank

  Question        In a contract of sale by description the goods sold must be of ________ quality.

  Correct Answer        Merchantable

  Your Answer     Merchantable

 

 

 True/False

  Question        Annual total cost remain constant though stock-turn over rate changes.

  Correct Answer        False

  Your Answer     False

 

 

 Multiple Choice Multiple Answer

  Question        Obsolescence cost is :-

  Correct Answer        Due stock on hand , Part No. / Name

  Your Answer     Due stock on hand , Cause of the event , Number of turns

 

 

 True/False

  Question        Single tender system is used when there is only one supplier of the item.

  Correct Answer        True

  Your Answer     True

 

 

 Select The Blank

  Question        In traditional purchasing, quality is confirmed ________.

  Correct Answer        On receipt

  Your Answer     On receipt

 

 

 

 

 

 

 

Materials Management - 9

REEBOK OPENINGS IN SALES
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LIST OF ATTEMPTED QUESTIONS AND ANSWERS



Multiple Choice Single Answer
Question
The basic materials which have not undergone any conversion since their receipts from suppliers is :-
Correct Answer
Raw material
Your Answer
Raw material

Multiple Choice Single Answer
Question
Heat is :-
Correct Answer
An physical agent
Your Answer
An physical agent

Multiple Choice Single Answer
Question
Inventory control system means :-
Correct Answer
To achieve basic purpose of inventory creation
Your Answer
To achieve basic purpose of inventory creation

Multiple Choice Multiple Answer
Question
Salient characteristics of kodak system are :-
Correct Answer
Materials are divided into few broad classifications , Each preliminary class is further divided into sub classes , Each sub class is next amplified into kind of items
Your Answer
Materials are divided into few broad classifications , Each preliminary class is further divided into sub classes , Each sub class is next amplified into kind of items

True/False
Question
Turnover discount is usually related to the annual business and is paid in the form of credit note at the end of the year.
Correct Answer
True
Your Answer
True

True/False
Question
Manual inspection is economical when volume of output is small.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Set-up cost is associated with :-
Correct Answer
Period , Number of production runs
Your Answer
Number of production runs , Machine cost

Multiple Choice Single Answer
Question
Stock taking is the responsibility of :-
Correct Answer
Stores
Your Answer
Stores & purchase

Match The Following
Question
Correct Answer
Your Answer
Nut bolts
Miscellaneous
Hand tools
Table and chair
Office equipment
Office equipment
Grinding machine
Capital equipment
Capital equipment
Rimmer
Hand tools
Miscellaneous

Select The Blank
Question
Standardized containers eliminates ________
Correct Answer
Transit damage
Your Answer
Transit damage

Multiple Choice Multiple Answer
Question
What are the forecasting techniques?
Correct Answer
Regression analysis , Exponential smoothening , Moving average
Your Answer
Moving average , Regression analysis , Exponential smoothening

Select The Blank
Question
Deterioration of rubber parts can be avoided by ________.
Correct Answer
Application of French chalk
Your Answer
Application of organic chemicals

True/False
Question
No restrictions are on rail transport.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
Primary function means :-
Correct Answer
Basics required to make product worth
Your Answer
Basics required to make product worth

Select The Blank
Question
A bonnet of motor-car is an ________.
Correct Answer
Protection to engine
Your Answer
Protection to engine

True/False
Question
Import substitution in reality should be looked upon as "Import avoidance"
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Quantity discounts are offered when :-
Correct Answer
Buyer tempts to produce large quantity , Production is higher & cost is less
Your Answer
Buyer tempts to produce large quantity , Production is higher & cost is less

Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.

Select The Blank
Question
Method suitable for items which are either of purely seasonal is ________.
Correct Answer
Seasonal buying
Your Answer
Seasonal buying

Multiple Choice Single Answer
Question
Deterioration implies :-
Correct Answer
Reduction in value of material
Your Answer
Reduction in value of material

Multiple Choice Multiple Answer
Question
Lowest price may be quoted by the prospective seller :-
Correct Answer
Deliberately with an intention to gain entry into the buyer's company , On account of failure to estimate the cost correctly and accurately. , Due to arithmetical errors in his cost estimates.
Your Answer
Deliberately with an intention to gain entry into the buyer's company , On account of failure to estimate the cost correctly and accurately. , Due to arithmetical errors in his cost estimates.

Select The Blank
Question
Set-up cost for manufactured item in own plant is ________.
Correct Answer
Very high
Your Answer
Very high

Multiple Choice Single Answer
Question
The submission of the final offers by the prospective sources is :-
Correct Answer
Firm bidding
Your Answer
Firm bidding

True/False
Question
Deterioration & Obsolescence cost are similar.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Value analysis speaks about :-
Correct Answer
Cost improvement , Improvement in quality
Your Answer
Cost improvement , Improvement in quality

Multiple Choice Multiple Answer
Question
Objectives of material research are :-
Correct Answer
To improve capability of purchase department to visualize problems which may be encountered in future. , To make optimum utilization of available resources , To provide the enterprise a competitive edge.
Your Answer
To improve capability of purchase department to visualize problems which may be encountered in future. , To provide the enterprise a competitive edge. , To attain lower efficiency in purchasing activities.

Select The Blank
Question
Fixed price is applied up to certain part of the contract and price is finally determined at an agreed point in the contract is ________
Correct Answer
Fixed price with predetermination
Your Answer
Cost plus percentage of cost.

Multiple Choice Multiple Answer
Question
Constituents of cost analysis are :-
Correct Answer
Raw material , Labour cost
Your Answer
Raw material , Labour cost , Inventory carrying cost

Multiple Choice Single Answer
Question
Policies lay down administrative principles utilized in framing procedures and rules is :-
Correct Answer
Internal policies
Your Answer
Internal policies

Select The Blank
Question
________ reduce problems of material planning.
Correct Answer
Reduction in lead time
Your Answer
Reduction in lead time

True/False
Question
OEM discount is given by the supplier with a view to widen customer's base.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
The organization set up by FAO & WHO to evolve food standards :-
Correct Answer
Codex Alimentarious commission
Your Answer
Codex Alimentarious commission

Select The Blank
Question
________ received in the daily mail can also provide information on the vendors of items which the buyer's company is interested in developing.
Correct Answer
Circulars
Your Answer
Circulars

True/False
Question
Master production schedule is not a forecast of demand but is plan for production.
Correct Answer
True
Your Answer
True

True/False
Question
Reorder quantity in fixed order interval system equal economic order quantity.
Correct Answer
False
Your Answer
False

Select The Blank
Question
In traditional purchasing, quality is confirmed ________.
Correct Answer
On receipt
Your Answer
At buyer's end

Multiple Choice Multiple Answer
Question
The receiving stores copy is used by it :-
Correct Answer
To ensure that supplier effects supply of only items ordered on him. , To ensure that supplier does not supply more than the quantity stipulated in the purchase order. , To ensure that the supplier effect deliveries through the mode of transport asked for by the buyer.
Your Answer
To enable indentor to do follow up with the purchase department , To ensure that supplier effects supply of only items ordered on him. , To ensure that the supplier effect deliveries through the mode of transport asked for by the buyer.

Multiple Choice Single Answer
Question
Material requisition means :-
Correct Answer
Material request note signed by authorized person
Your Answer
Request for material as required

True/False
Question
Make or buy decision are of common concern to both materials and production department.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
What is the identification & location of stock in store?
Correct Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.
Your Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.

Match The Following
Question
Correct Answer
Your Answer
Vendor rating
Right source
Right source
Replenishment method
Right time
Right time
Competitive bidding
Right price
Right price
EOQ
Right quantity
Right quantity

Multiple Choice Multiple Answer
Question
Typical examples of direct materials are :-
Correct Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry
Your Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry

Multiple Choice Multiple Answer
Question
Following are benefits of scientific stoke management :-
Correct Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
Your Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material

Multiple Choice Single Answer
Question
What is described in sale of goods Act 1930?
Correct Answer
Various rules concerning delivery of goods to be agreed between seller & buyer
Your Answer
Various rules concerning delivery of goods to be agreed between seller & buyer

Select The Blank
Question
________ is suitable for procurement of prototypes, fixtures, development items.
Correct Answer
Cost plus percentage of cost.
Your Answer
Fixed price agreements with escalation.

Multiple Choice Multiple Answer
Question
Steel almirahs are used for storage of :-
Correct Answer
Expensive items , Scarce items
Your Answer
Expensive items , Scarce items

True/False
Question
Contract whose object is not lawful are not void.
Correct Answer
False
Your Answer
False

Materials Management - 8

LIST OF ATTEMPTED QUESTIONS AND ANSWERS



True/False
Question
Small parcels, Samples, gifts which are received from other countries provisions of import policy & customs not applied on them.
Correct Answer
False
Your Answer
False

Match The Following
Question
Correct Answer
Your Answer
Delivery time
As specified in contract
Warranties
Essential stipulations
Conditions
As per agreement
Collateral stipulations
Warranties
As specified in contract
Caveat emptor
Fundamental principle of sale of goods
Sale of goods act option

Multiple Choice Single Answer
Question
For the inspection of special Cutting tools which department is responsible?
Correct Answer
Planning department & inspection department
Your Answer
Planning department & inspection department

True/False
Question
Black listing may be for a limited period or for an indefinite period.
Correct Answer
True
Your Answer
False

Select The Blank
Question
Two-bin system supersedes ________.
Correct Answer
Perpetual inventory
Your Answer
Perpetual inventory

Multiple Choice Multiple Answer
Question
Stores functions include :-
Correct Answer
Receiving and issuing of materials , Keeping the record , Taking precautions to avoid pilferage, theft
Your Answer
Receiving and issuing of materials , Keeping the record , Taking precautions to avoid pilferage, theft

Multiple Choice Multiple Answer
Question
Analysis of certification correctness of material is required for :-
Correct Answer
Bar stock , Castings
Your Answer
High risk materials , Liquids

Select The Blank
Question
________ is followed in public sector organizations to identify the lowest potential bidder.
Correct Answer
Tender system
Your Answer
Tender system

Select The Blank
Question
Set-up cost for manufactured item in own plant is ________.
Correct Answer
Very high
Your Answer
Very less

Select The Blank
Question
The ________ is raised by the receiving stores in receipt of materials and after physical verification of the quantity and quality.
Correct Answer
Goods Receipt Report
Your Answer
Goods Receipt Report

True/False
Question
Metals should be stored at least 15-20 cm above the ground.
Correct Answer
True
Your Answer
True

True/False
Question
JIT purchasing is indirectly the activity of pushing inventory on the suppliers.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
Annual total cost is :-
Correct Answer
Annual Material Cost + Annual Procurement Cost + Annual ICC
Your Answer
Annual Material Cost + Annual Procurement Cost + Annual ICC

True/False
Question
No restrictions are on rail transport.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Advantages of forward buying are :-
Correct Answer
Greater margin of profit on finished goods , Saving in procurement expenses as purchases are usually consolidated. , Security against shortages
Your Answer
Greater margin of profit on finished goods , Saving in procurement expenses as purchases are usually consolidated. , Security against shortages

Multiple Choice Single Answer
Question
The purchase of variety of items from single source is called as :-
Correct Answer
Blanket orders
Your Answer
Blanket orders

True/False
Question
Inventory control technique is suited for low value indirect materials which are economical to procure them in certain pre fixed quantities.
Correct Answer
True
Your Answer
False

Multiple Choice Single Answer
Question
Contracts of A & B class items should have :-
Correct Answer
Value engineering
Your Answer
Value analysis

True/False
Question
Reorder quantity in fixed order interval system equal economic order quantity.
Correct Answer
False
Your Answer
True

Select The Blank
Question
Indian railways carry almost ________ goods & passenger traffic.
Correct Answer
0.75
Your Answer
0.75

Select The Blank
Question
The purchasing of Weigh bridge is________
Correct Answer
Capital purchasing
Your Answer
Import purchasing

Multiple Choice Multiple Answer
Question
Techniques of Simplification :-
Correct Answer
Preferred numbers , Frequency analysis , Rationalized codification
Your Answer
Classification , Frequency analysis , Rationalized codification

Multiple Choice Multiple Answer
Question
Correct issues must have :-
Correct Answer
Written requisitions , Authorized requisitions
Your Answer
Written requisitions , Authorized requisitions

Multiple Choice Multiple Answer
Question
Rejection percentage to be allowed to the vendor depends on the :-
Correct Answer
Configuration of component , Number of operations involved , Tolerances and surface finishes
Your Answer
Number of operations involved , Tolerances and surface finishes , Process

Select The Blank
Question
One of the major pipe-line in India is ________.
Correct Answer
Ankaleshwar - Baroda
Your Answer
Barauni - Bajwa

Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.

Multiple Choice Multiple Answer
Question
Continuous Stock-taking is effective due to :-
Correct Answer
Planned/scheduled activity , Discrepancies are noticed & corrected in short spell
Your Answer
Planned/scheduled activity , Discrepancies are noticed & corrected in short spell , Eliminates material losses

Multiple Choice Single Answer
Question
Limited competition is associated with higher price while wider competition enables buying at competitive rates is known as :-
Correct Answer
Extent of competition
Your Answer
Demand and supply condition

Select The Blank
Question
________ is an addition of unnecessary cost to product
Correct Answer
Poor design
Your Answer
Poor design

Multiple Choice Multiple Answer
Question
The alpha numerical system operates as under :-
Correct Answer
Each item is identified and is given a proper description. , Identical items are classified into groups and each group is provided a suitable heading. , Codes are assigned to the next group, which are usually the alphabets.
Your Answer
Each item is identified and is given a proper description. , Identical items are classified into groups and each group is provided a suitable heading. , Codes are assigned to the next group, which are usually the alphabets.

Multiple Choice Single Answer
Question
How much saving in material cost can give benefit equivalent to eight to nine % rise in sales volume?
Correct Answer
0.01
Your Answer
0.01

Multiple Choice Single Answer
Question
The purchasing made under contract , usually formal, of needed materials, the delivery of which is frequently spread over a period of time is known as :-
Correct Answer
Contract buying
Your Answer
Contract buying

Multiple Choice Single Answer
Question
Which type of tendering is adopted when the requirements are urgent?
Correct Answer
Limited tender
Your Answer
Limited tender

True/False
Question
Continuous stock-taking tends to dislocate the working of store.
Correct Answer
False
Your Answer
False

True/False
Question
PO gives full and complete details of the materials to be supplied thereby avoiding ambiguities.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
External lead time is :-
Correct Answer
Supplier's lead time
Your Answer
Supplier's lead time

Match The Following
Question
Correct Answer
Your Answer
Supplies
Abrasive materials
Chemicals
Perishable materials
Vegetables
Vegetables
Packing materials
Carton
Carton
Empties
Metal containers
Metal containers

Multiple Choice Multiple Answer
Question
Primary duties to be performed by purchase department are :-
Correct Answer
Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback , Search for suppliers
Your Answer
Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback , Search for suppliers

Multiple Choice Multiple Answer
Question
In F.O.R. contract seller is responsible for :-
Correct Answer
Arranging for movement of goods to the transporter's godown , Safe loading on into the vehicle , Keeping the material in deliverable state
Your Answer
Arranging for movement of goods to the transporter's godown , Safe loading on into the vehicle , Keeping the material in deliverable state

Multiple Choice Single Answer
Question
Primary function means :-
Correct Answer
Basics required to make product worth
Your Answer
Basics required to make product worth

Multiple Choice Single Answer
Question
Who act as a link between company's financial department and supplier's for timely payment?
Correct Answer
Purchase division
Your Answer
Purchase division

Select The Blank
Question
Review system-optional replenishment is a modification of ________.
Correct Answer
Fixed-order interval system
Your Answer
Fixed-order interval system

Multiple Choice Single Answer
Question
Value analysis job plan contains :-
Correct Answer
9 steps
Your Answer
9 steps

Multiple Choice Multiple Answer
Question
Functions of Traffic division :-
Correct Answer
Tracing missing consignments , Selecting the right kind of shipping service , Scrutinizing freight bills for payment.
Your Answer
Selecting the right kind of shipping service , Scrutinizing freight bills for payment.

Select The Blank
Question
________Inspects the goods & issues a surveyor report certificate.
Correct Answer
Surveyor
Your Answer
Surveyor

Multiple Choice Multiple Answer
Question
Objectives of material research are :-
Correct Answer
To improve capability of purchase department to visualize problems which may be encountered in future. , To make optimum utilization of available resources , To provide the enterprise a competitive edge.
Your Answer
To improve capability of purchase department to visualize problems which may be encountered in future. , To make optimum utilization of available resources , To provide the enterprise a competitive edge.

True/False
Question
Two bin system is better as compared to perpetual inventory system.
Correct Answer
False
Your Answer
True