quiz

1
Name
First Name
Last Name
2
Email
example@example.com
3
Efficient material control reduces-
losses
wastage
both (a)&(b)
none of the above
4
Lack of control over material also leads to-
excessive consumption
wastages
irrational supply of materials
all of the above
5
Objective of inventory control are-
minimize investment in inventories
lack of control over material
to keep surplus and obselete items to maximum
inefficient storage of material
6
Decisions are based upon judgement of-
sales manager
controller
purchasing manager
all of the above
7
common techniques of inventory control-
order cycling system
fixation of various levels
use of control ratio
all of the above
8
It is one of the oldest method-
ABC analysis
order cycling system
the two bin system
min-max plan
9
ABC plan is based upon-
segregation of material for selection control
it measures the money value
cost significance of each material
all of the above
10
fixation of norms of inventories is set by-
top management
material department
both (a)&(b)
none of the above
11
determination of price per unit for each item is done in-
min-max plan
the two bin system
ABC analysis
none of the above
12
this level is a level of stock between the minimum level & nil stock-
minimum level
maximum level
ordering level
dander or safety level
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the ordering level is calculated from the following factors-
the expected usage
minimum level
the lead time
all of the above
14
advantages of perpectual inventory system-
easy detection of errors
better control over stores
act as internal check
all of the above
15
under bin card-
posting are done before transaction take place
record quantity and value
maintained by account department
none of the above
16
main objective of store keeping-
facilitate perpectual inventory
protect store against losses
both (a)&(b)
neither (a)or(b)
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inspection note has to be prepared in-
single form
triplicate form
dual form
none of the above
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stock verification is the process of-
checking/verifying the stock physically
specified price
base stock
basic standard
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example of abnormal losses are-
improper storage
breakage
theft
all of the above
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material or component which are so damaged in manufacturing process that they cannot be repaired or reconditioned-
wastage
scrap
spoilage
defectives
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minimum level can be computed by-
mini.level=re-ordering level -(normal consumption*normal re-ordering period)
mini.level=minimum level+consumption during time lag period
mini.level=minimum consumption*lead time+ safety stock
mini.level=ordering level -(average rate of consumption * re order period)
22
scrap represent-
unusable loss
residue which is measureable
has a minor value
all of the above
23
rate the quiz
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Type a question
Type option 1
Type option 2
Type option 3
Type option 4
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