Stock Control

Description

Quiz on Stock Control, created by Demar Davidson on 28/11/2014.
Demar Davidson
Quiz by Demar Davidson, updated more than 1 year ago
Demar Davidson
Created by Demar Davidson almost 10 years ago
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Resource summary

Question 1

Question
What is stock?
Answer
  • 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.

Question 2

Question
Internal requests from stock are called ?
Answer
  • Deductions
  • order
  • Requisitions

Question 3

Question
What are orders?
Answer
  • Request for customers from different countries.
  • Request for money from customers.
  • Request for supplies from customers.

Question 4

Question
To ensure what, a close check of stock must be maintained?
Answer
  • Because the country is facing a recession employees can get food for their family.
  • To ensure that sufficient quantity is always available when needed.

Question 5

Question
Whys is stock control important?
Answer
  • To facilitate the owner of the business.
  • Because it is used to support internal operations.

Question 6

Question
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.
Answer
  • True
  • False

Question 7

Question
Items such as Diamonds will need protection.
Answer
  • True
  • False

Question 8

Question
Stock is a current Liability of the business.
Answer
  • True
  • False

Question 9

Question
Assets are things the business owes.
Answer
  • True
  • False

Question 10

Question
Liabilities are things the business owes.
Answer
  • True
  • False

Question 11

Question
All assets and liabilities are shown in a financial statement called a balance sheet.
Answer
  • True
  • False

Question 12

Question
What is stock in trade?
Answer
  • Stock purchased for resale.
  • Stock sold for resale.

Question 13

Question
What are consumable stocks?
Answer
  • Money that a company owns.
  • The amount of cars that is owned by the company.
  • Raw materials for manufacturing.
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