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WorksheetsStocktaking
Total questions: 10
Worksheet time: 5mins
Stocktaking is:
The following statement is a purpose of stocktaking: To keep track of physical stock and to verify internal controls by cross checking stock
This Statement is True
This Statement is False
This Statement is neither True/false
This statement is somewhat true and false
One benefit of doing a stock taking exercise is it is Lengthy and time-consuming since it is manually done sometimes.
This statement is false
This statement is true
This statement is neither true/false
This statement is somewhat true and false.
This Inventory System of Stock does a physical count of Inventory:
Perpetual
Periodic
FIFO
LIFO
This method of Inventory system is often easier and more cost-effective to implement
Perpetual Inventory
Periodic Inventory
Avco Inventory
Lifo Inventory
This type of inventory management system continuously records inventory changes in real time with computerized point-of-sale systems.
FIFO
LIFO
Perpetual
Periodic
A Reduction of downtime or store closures is an advantage of which of the Inventory management System?
Perpetual
Average Weighted Method
Periodic
Stock Return Method
It is best to take breaks, this task is long and arduous, and it’s easy to make mistakes when overworking yourself. This process is to be done:
Before the stock taking process
During the stocktaking process
After the stocktaking process
At all of the intervals
Which of the following stock document is used as a confirmation of inventory received?
Purchases Requisition
Purchase Order
Purchase Invoice
Goods Received Note
This card is used to keep track of the number of items held in a warehouse or stockroom.
Bin Card
Purchase Invoice
Goods Received Note
Purchase Order
