Which one of the following is the correct sequence of the purchase procedure of inventory —

CS Executive · Cost and Management Accounting · PYQS · June 2016
Which one of the following is the correct sequence of the purchase procedure of inventory —
(A) Indenting for material, issuing tenders, receiving quotations, and placing order
(B) Issuing tenders and receiving quotations, indenting for material, and placing order
(C) Placing order, issuing tenders and receiving quotations, and indenting for material
(D) Indenting for material and placing order.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Inventory Management

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