What is stock?
Stock refers to goods or materials kept by an organisation in a special place called a warehouse or store or stock room.
Stock refers to businesses that keep goods in return for incentives.
Internal requests from stock are called ?
Deductions
order
Requisitions
What are orders?
Request for customers from different countries.
Request for money from customers.
Request for supplies from customers.
To ensure what, a close check of stock must be maintained?
Because the country is facing a recession employees can get food for their family.
To ensure that sufficient quantity is always available when needed.
Whys is stock control important?
To facilitate the owner of the business.
Because it is used to support internal operations.
If a business holds too much stock it can be a drain on its resources, such as space for storage, selling displays, cash, credit limit and so on.
Items such as Diamonds will need protection.
Stock is a current Liability of the business.
Assets are things the business owes.
Liabilities are things the business owes.
All assets and liabilities are shown in a financial statement called a balance sheet.
What is stock in trade?
Stock purchased for resale.
Stock sold for resale.
What are consumable stocks?
Money that a company owns.
The amount of cars that is owned by the company.
Raw materials for manufacturing.
