A Materials Requisition Is a Source Document Used by Materials

question 129

True/False

A materials requisition is a source document used by materials managers of a manufacturing company to order raw materials from suppliers; it serves the same purpose as a purchase order in a merchandising company.

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Definitions:

COGS

Cost of Goods Sold; the direct costs attributable to the production of the goods sold in a company.

Service Quality

Refers to the comparison between customer expectations regarding a service and their perception of the service received, focusing on how well a service meets or exceeds customer standards.

Corporate Strategy

The overall scope and direction of a corporation and the way in which its various business operations work together to achieve particular goals.

Metrics

Quantifiable measures used to assess, compare, and track performance or efficiency over time.