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Material Cost Control Interview Questions

Below we have listed all the Material Cost Control Interview Questions and answers. Feel free to comment on any Material Cost Control Interview Questions or answer by the comment feature available on the page.

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Material cost control is the level of material maintenance so as to ensure uninterrupted production and minimizing the investment of funds. Materials cost is one of the important elements of cost of product or unit. It constitutes a substantial proportion of the total cost of production. For material cost control purposes, it is very essential to know them important aspects of material, material control and material purchase control.

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Question
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What do you understand by store keeping?
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What is material cost?
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What is the necessity and importance of material control?
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What does Inventory Turnover ratio indicates?
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What are the functions of store keeping?
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What is industrial purchasing?
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Explain purchasing process?
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What is maximum level?
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What is the difference between centralized and decentralized storage?
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What is a material requisition?
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State the requirements of a system of a material control?
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What is VED Analysis?
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Name the four sections in the process of store keeping.
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What is periodic inventory system?
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What is minimum level?
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What are the objectives of store keeping?
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How is Inventory Turnover Ratio calculated?
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How is Economic Order Quantity calculated?
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What is meant by material control?
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What is institutionalised or government purchasing?
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India News Network
Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
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In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
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A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
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Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
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