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CMA I - Material Costing

Authored by Cheryl Lim

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University

12 Questions

Used 33+ times

CMA I - Material Costing
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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

When new material is purchased, which column is it recorded in?

Receipts

Issue

Balance

Closing balance

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

________shows stock position at the bin.

EOQ

ABC

Bin Card

None of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

_______is decided on the basis of ordering cost and carrying cost.

EOQ

Maximum Stock Level

Minimum Stock Level

Average Stock Level

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Purchase order is a ______.

Request to the supplier to supply materials

Request to the supplier to verify the stock

Acknowledgement of goods

Sales invoice

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

________shows movement of each item of material.

Stores ledger

Delivery material

Supplier ledger

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Under _________ stock is verified continuously.

ABC Analysis

Periodic Inventory System

Perpetual Inventory System

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Under rising prices pricing of material issued at latest price under_______.

FIFO

LIFO

Weighted Average

Simple Average

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