A Materials Requisition Is a Source Document Used by Production

question 64

True/False

A materials requisition is a source document used by production managers to request materials for production and also used to assign materials costs to specific jobs or to overhead.

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Definitions:

Primary Sector

The primary sector of the economy involves extracting and harvesting natural resources, such as agriculture, mining, forestry, and fishing.

Economy

A system of production, distribution, and consumption of goods and services within a particular territory or entity.

Logging Company

A business involved in cutting down trees, processing timber, and possibly engaging in forestry management and sales of wood products.

Secondary Sector

Part of the economy that involves industrial activity, including manufacturing and construction, that processes raw materials into finished goods.