Related Mcqs:

1. The production of goods or services that can be bought from outside suppliers is classified as ___________?

   A. idle sourcing
   B. sunk sourcing
   C. outsourcing
   D. in-sourcing

2. The systematic flow of services, goods or information from the buying material for product delivery to the customers is known as __________?

   A. supply chain
   B. value chain
   C. material flow chain
   D. manufacturing flow chain

3. The costs of goods acquired from suppliers are classified as ___________?

   A. stock-out costs
   B. ordering costs
   C. carrying costs
   D. purchasing costs

4. The pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as ______________?

   A. product life cycle method
   B. life cycle budgeting method
   C. life cycle costing method
   D. time and material method

5. The costs associated with storage of finished goods such as spoilage, obsolescence and insurance of goods are classified as ___________?

   A. carrying costs
   B. purchasing costs
   C. stock-out costs
   D. ordering costs

6. The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________?

   A. proration approach
   B. appreciation approach
   C. depreciation approach
   D. adjusted approach

7. Buying of goods or materials for production in a way that they are delivered directly on the manufacturing facility of company is called ____________?

   A. economic order quantity purchasing
   B. annual purchasing
   C. just in time purchasing
   D. both a and b

8. In financial accounting, the investors, banks, suppliers and government agencies are classified as _____________?

   A. external parties
   B. internal parties
   C. environmental parties
   D. transactional parties

9. The flow of goods and services, from the start of gathering materials until the delivery of products, is known as __________?

   A. flow chart analysis
   B. supply chain analysis
   C. resource chain analysis
   D. acquiring analysis

10. The cost of manufactured goods is added into beginning inventory, and the amount equal to cost of sold goods are added into ___________?

    A. minus beginning inventory
    B. minus ending inventory
    C. plus ending inventory
    D. plus beginning inventory