Cost_Accounting_TYBcom_Sem_6_MCQ.

1. Materials Requisition Note (a) authorises and records the issue of materials for use (b) records the return of unused materials (c) records the transfer of materials from one store to another (d) a classified record of materials, issues, returns and transfers 2. Materials Transfer Note (a) authorises and records the issue of materials for use (b) records the return of unused materials (c) records the shifting of materials from one store to another (d) a classified record of materials, issues, returns and transfers 3. A document which is a classified record of material issues, returns and transfers (a) Materials Requisition Note (b) Materials Return Note (c) Materials Transfer Note (d) Materials Issue Analysis Sheet 4. This is essential to make the cost ledger 'self-balancing’. (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-Progress Ledger (d) Finished Goods Control Account 5. This is debited with all purchases of materials for the stores and credited with all issues of materials (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-Progress Ledger (d) Finished Goods Control Account 6. In this, cost of materials, wages and overheads of each job undertaken is posted. (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-Progress Ledger (d) Finished Goods Control Account 7. This represents the total value of finished goods in stock. (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-Progress Ledger (d) Finished Goods Control Account