Q.11)-These are the items purchased to be used in the production process
- Sales
- Purchase
- Raw material
- Goods
Q.12)-WIP stands for
- Work incomplete
- Work in progress
- Work in pressure
- Work in present
Q.13)-FIFO stands for
- First in Fast out
- First in First out
- Fast in Fast out
- Fast in First out
Q.14)-LIFO stand for
- Last in Fast out
- Last in Front out
- Last in First out
- Last in First out