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WorksheetsINTRO PURCHASE & COST CONTROL
Total questions: 10
Worksheet time: 4mins
What is a purchase ?
The buying of everything
The buying of our needs and wants
The buying of our personal needs
the buying of goods or services
How many types of Purchasing ?
1
2
3
4
How many stages of the purchasing process?
6
7
9
8
Why is Purchasing important ?
To meet their needs on a regular basis
To get competitive performance, profitability and overall efficiency
To get the optimal benefit from the value for money spent
All answers are correct
What is the meaning of Cost Control ?
A particular regulation by certain executive actions which result in the cutting of costs in uncertain operations of the company
A particular system by certain executive actions which result in the expenses of the company
A particular regulation by certain executive actions which result in the cutting of costs in certain operations of the company
A particular policy by certain executive actions which result in the cutting of costs in certain operations of the company
How many primary phases in the Cost Management System ?
2
3
4
5
Why is Cost Control important ?
To achieve a target set for the sales of the businesses
To avoid the deviations, easily analyzed and take some corrective actions
A method to reduce expenses / costs as low as possible and to get the targeted profit
All answers are correct
What are the advantages of implementing Cost Control?
Which of the four brothers below is wrong....
Provides a yardstick for measuring performance
Allows comparison
Decreases debt
Reduces the employees
There are 4 primary phases in Cost management System : Resources Planning, ........................, Cost Budgeting, and Cost Control.
Human Resources
Money
Cost Estimating
Purchasing
The opposite of a purchase is .............
a Buying
a Procuring
a Shopping
a sale
