1. The registered firms are required to submit security deposit which is required from unregistered firms.
[A]TRUE
[B]FALSE
2. Functionally critical parts require to be covered under cent per cent inspection
[A]TRUE
[B]FALSE
3. Codification avoids confusion and doubt caused by long description of items.
[A]TRUE
[B]FALSE
4. A firm engaged in custom-built-product, is usually plagued with obsolete material.
[A]TRUE
[B]FALSE
5. Negotiation should end up with an unhappy supplier.
[A]TRUE
[B]FALSE
6. Since stock-taking is a check on storekeeper, it should not be conducted by him.
[A]TRUE
[B]FALSE
7. In fixed-order interval system, order interval is fixed.
[A]TRUE
[B]FALSE
8. Pre-fixed qty. issue system is suitable for A-class items.
[A]TRUE
[B]FALSE
9. Telephonic quotations are useful when there is limited competition.
[A]TRUE
[B]FALSE
10. Cost of capacity which may be rendered idle if the item currently being manufactured in purchased needs to be added to the cost to buy.
[A]TRUE
[B]FALSE
11. Purchase cost is the price paid the supplier
[A]TRUE
[B]FALSE
12. Esteem value is paid by the supplier.
[A]TRUE
[B]FALSE
13. Vendors are not responsible for statutory approvals from government authorities.
[A]TRUE
[B]FALSE
14. Noting clerk examines bill of entry papers & if found in order signs the bill of entry.
[A]TRUE
[B]FALSE
15. Lead time information is required for determination of safety stock.
[A]TRUE
[B]FALSE
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