Question

another
d. A classified record of materials, issues, returns and transfers
2. Materials Transfer Note :
BE
a. Authorizes 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​

Answer 1

Answer:

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Answer 2

QUESTION:-

There are FOUR questions given with the option. We have to choose the correct option for those questions.

ANSWER:-

COMPLETE QUESTION 1

Material Requisition Note

1. a) Authorises and records the issue of material of use
2. b) Records the return of unused material
3. c) Records the transfer of materials from one store to another
4. d) A classified record of materials, issues, returns and transfers

ANSWER 1

• ANSWER 1a) Authorises and records the issue of material of use is the correct answer.
• A material requisition is a document which is utilized by the department of production to request materials they require to complete a process of manufacturing.

ANSWER 2

Materials Transfer Note :

• c. Records the shifting of materials from one store to another is the correct option.
• Materials Transfer note is a form for recording the transfer of material from one accounting code to another.

ANSWER 3

A document which is a classified record of material issues returns and transfers

• d. Materials Issue Analysis Sheet is the correct option.
• Material Issue Analysis Sheet is a document which is a classified record of materials issues, returns and transfers.”. For verifying the cost of materials issued for a job with amenity, it is better to evaluate the varied Requisition slips since mostly there will be a number of them for one employment.

ANSWER 4

This is essential to make the cost ledger 'self-balancing'

• a. General Ledger Adjustment Account is the correct option.
• General Ledger Adjustment Account is essential to make the Cost Ledger 'self-balancing'. Each transaction of income and expenditure which derive from the Financial Accounts needs to be entered in the ledger for ultimate transfer to Cost Accounts.

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