Purchasing – NBC Institute

MI – Nov 2020 – L1 – SA – Q3 – Costing Methods

Identify a feature that is not characteristic of Just-in-Time (JIT) purchasing.

Question

Which of the following is NOT a characteristic of Just-in-Time Purchasing?

A. Goods delivered immediately before demand or use

B. Increase in number of deliveries, each containing a smaller number of units

C. Goods/material delivery in “factory ready” containers, thereby reducing materials handling

D. Short-term agreement with many suppliers specifying prices, delivery, and acceptable quality levels

E. Minimal checking by purchaser of quality and quantity of deliveries

Answer

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Tags: Inventory, Just-in-Time, Purchasing, Supply Chain
Level: Level 1

Topic: Costing Methods
Series: NOV 2020

MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements

Identifying a non-advantage of the Just-in-Time purchasing arrangement.

Question

Which of the following is NOT an advantage of Just-in-Time purchasing arrangement?

A. Reduced investment in raw materials
B. Substantial savings in factory space
C. Low quantity discounts
D. Low investment in work-in-progress
E. Reduction in paperwork

Answer

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Tags: Inventory, Just-in-Time, Purchasing
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2022

MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

Question

The document required by the purchase department to enable it to place an order for replenishment of stock is
A. Purchase order
B. Store requisition
C. Proforma invoice
D. Waybill
E. Material usage note

Answer

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Tags: Multiple Choice, Objective Question, Purchasing, Stock Replenishment
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2015

MI – Nov 2020 – L1 – SA – Q3 – Costing Methods

Identify a feature that is not characteristic of Just-in-Time (JIT) purchasing.

Question

Which of the following is NOT a characteristic of Just-in-Time Purchasing?

A. Goods delivered immediately before demand or use

B. Increase in number of deliveries, each containing a smaller number of units

C. Goods/material delivery in “factory ready” containers, thereby reducing materials handling

D. Short-term agreement with many suppliers specifying prices, delivery, and acceptable quality levels

E. Minimal checking by purchaser of quality and quantity of deliveries

Answer

Find Related Questions by Tags, levels, etc.

Tags: Inventory, Just-in-Time, Purchasing, Supply Chain
Level: Level 1

Topic: Costing Methods
Series: NOV 2020

MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements

Identifying a non-advantage of the Just-in-Time purchasing arrangement.

Question

Which of the following is NOT an advantage of Just-in-Time purchasing arrangement?

A. Reduced investment in raw materials
B. Substantial savings in factory space
C. Low quantity discounts
D. Low investment in work-in-progress
E. Reduction in paperwork

Answer

Find Related Questions by Tags, levels, etc.

Tags: Inventory, Just-in-Time, Purchasing
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2022

MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Multiple Choice, Objective Question, Purchasing, Stock Replenishment
Level: Level 1

Topic: Accounting for Cost Elements
Series: MAY 2015

Question Tag: Purchasing

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MI – Nov 2020 – L1 – SA – Q3 – Costing Methods

Identify a feature that is not characteristic of Just-in-Time (JIT) purchasing.

MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements

Identifying a non-advantage of the Just-in-Time purchasing arrangement.

MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

MI – Nov 2020 – L1 – SA – Q3 – Costing Methods

Identify a feature that is not characteristic of Just-in-Time (JIT) purchasing.

MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements

Identifying a non-advantage of the Just-in-Time purchasing arrangement.

MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

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MI – Nov 2020 – L1 – SA – Q3 – Costing Methods

Identify a feature that is not characteristic of Just-in-Time (JIT) purchasing.

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MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements

Identifying a non-advantage of the Just-in-Time purchasing arrangement.

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MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

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MI – Nov 2020 – L1 – SA – Q3 – Costing Methods

Identify a feature that is not characteristic of Just-in-Time (JIT) purchasing.

You're reporting an error for "MI – Nov 2020 – L1 – SA – Q3 – Costing Methods"

MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements

Identifying a non-advantage of the Just-in-Time purchasing arrangement.

You're reporting an error for "MI – May 2022 – L1 – SA – Q7 – Accounting for Cost Elements"

MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements

Identify the document required to place an order for stock replenishment.

You're reporting an error for "MI – May 2015 – L1 – SA – Q5 – Accounting for Cost Elements"

Our offerings

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Customer

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