Store Records & Stock Taking

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Basics of stock records

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Adanri Anuoluwapo Anuoluwapo

Nigeria

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Store Records & Stock Taking


Store Records & Stock TakingVersion en ligne Basics of stock records par Adanri Anuoluwapo Anuoluwapo 1 What is the purpose of stock taking in a store? a To summarize sales figures only b To count only new deliveries without checking existing stock c To reorder all items automatically d To count and verify physical stock against records. 2 Which document is commonly used to record stock counts? a Cash receipt b Stock count sheet c Purchase order d Delivery note 3 Which method is best for counting fast-moving items on shelves? a Full annual count b Skipping counts for popular items c Cycle counting d Random guessing 4 What does a stock ledger typically show? a Quantities, values, and movements of stock b Vendor credit terms c Employee shifts d Marketing campaigns 5 Why should discrepancies be investigated after stock take? a To reduce staff numbers b To delay financial reporting c To justify higher prices d To locate errors and prevent future mismatches 6 What is a perpetual inventory system? a Counting stocks only monthly b Updating at year-end only c Recording only purchases, not sales d Continuously updating stock records after every transaction 7 Which item is least likely to be part of stock records? a Customer names b Item code c Location in warehouse d Quantity on hand 8 What is stock at hand? a The number of employees b The total value of all orders c The list of suppliers d The physical quantity available in the store 9 Which action improves stock accuracy? a Reducing stock varieties b Removing stock cards entirely c Increasing prices d Regular reconciliation between physical counts and records 10 What should be done with damaged or obsolete stock identified in stock take? a Record as write-off and adjust stock records b Ignore and continue counting next time c Sell at full price d Return to suppliers automatically

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Store Records & Stock Taking

Test

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Store Records & Stock TakingVersion en ligne

par Adanri Anuoluwapo Anuoluwapo

What is the purpose of stock taking in a store?

Which document is commonly used to record stock counts?

Which method is best for counting fast-moving items on shelves?

What does a stock ledger typically show?

Why should discrepancies be investigated after stock take?

What is a perpetual inventory system?

Which item is least likely to be part of stock records?

What is stock at hand?

Which action improves stock accuracy?

What should be done with damaged or obsolete stock identified in stock take?