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1719430
Stock Control
Description
Quiz on Stock Control, created by Demar Davidson on 28/11/2014.
No tags specified
office administration
Quiz by
Demar Davidson
, updated more than 1 year ago
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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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