2. The purchase order: a. contracts for quantities to be delivered. b. authorizes the storeroom to deliver materials to a given department. c. is the list of materials requirements for each step in the production cycle. d. informs the purchasing agent of the quantity and kind of materials needed.
2. The purchase order: a. contracts for quantities to be delivered. b. authorizes the storeroom to deliver materials to a given department. c. is the list of materials requirements for each step in the production cycle. d. informs the purchasing agent of the quantity and kind of materials needed.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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2. The purchase order:
a. contracts for quantities to be delivered.
b. authorizes the storeroom to deliver materials to a given department.
c. is the list of materials requirements for each step in the production cycle.
d. informs the purchasing agent of the quantity and kind of materials needed.
3. The receiving report:
a.certifies quantities received and reports results of inspection and testing.
b. is the list of materials needed for each step in the production cycle.
c. contracts for quantities to be delivered.
d. informs the purchasing agent of the quantity and kind of materials needed.
4. The receiving department does all of the following except:
a. Matches materials received with descriptions on purchase orders.
b. Unloads and unpacks incoming materials.
c. Arranges for inspection, when necessary.
d. Keeps informed concerning sources of supply, prices and delivery schedules.
5. Entries made in Materials account in the general ledger are the following, except:
a. Materials returned.
b. Materials issued.
c. Materials purchased.
d. Materials reserved and on order.
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