ECONOMICS

Detailed explanation-1: -The purchasing agent is involved in the physical control of materials. The purchasing agent is responsible for the preparation of material requisitions and specifying the kind of materials of materials needed. The production supervisor is responsible for the preparation of requisition.

Detailed explanation-2: -Answer and Explanation: The form organized by the purchasing agent and sent to the seller to get material is known as purchase order.

Detailed explanation-3: -Definition: Material control is a management activity that administers how the inventory employed in the production process is procured, acquired, handled and utilized. It is a process that requires planning, organization an auditing of all the elements employed in certain productive activity.

Detailed explanation-4: -Materials are classified according to nature such as raw material, consumable stores, spares and the like. In terms of relationship, materials are classified as direct material and indirect material.