Question 77 of 78
Q.(c) What is material transfer note ?
ChseodishaCHSE Odisha Plus Two (Class 12) Commerce Board 2024Subjective· 3mImportance★★★★★est
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Start your 14-day free trial to unlock the full solution →A material transfer note documents the direct move of material from one job/department to another and shifts its cost accordingly.
When material already issued to one job or department is not needed there but is required by another, instead of returning it to the stores and re-issuing it (which is slow and costly), it is transferred directly. The MATERIAL TRANSFER NOTE records this transfer, showing:
- The material description and quantity;
- The job/department transferring it (to be credited) and the one receiving it (to be debited). …
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