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Question-1
Identify the merits of perpetual inventory system from the following
(A)
It is an expensive affairs
(B)
Stock figure are not reliable
(C)
It is a regular work expert can be appointed
(D)
It is suitable to bigger firms
Question-2
Identify the merits of perpetual inventory system from the following
(A)
It is an expensive affair
(B)
Stock figure are not reliable
(C)
This system brings to light the existence of obsolete, dormant and slow moving items
(D)
It is suitable to bigger firms
Question-3
Which one of them is belongs to the bin card?
(A)
It gives physical information only
(B)
Postings are made after the transaction
(C)
Entries are made periodically
(D)
It is kept in the cost office
Question-4
Identify the demerits of perpetual inventory system from the following
(A)
It is a regular work expert can be appointed
(B)
It ensures a moral influence on the stores staff
(C)
Discrepancies are detected easily and quickly
(D)
It is an expensive affair
Question-5
Identify the perpetual inventory system from the following system
(A)
It is based on physical stock taking
(B)
It provides data once in a year
(C)
It does not provide basis for control
(D)
It provides basis for control
Question-6
Which one of them is belongs to the stores ledger?
(A)
Entries are made along with each transaction
(B)
Entries are made by the store keeper
(C)
Postings are made before the transaction
(D)
Postings are made after the transactions
Question-7
Which one of them is belongs to the stores ledger?
(A)
It is a record of quantities only
(B)
It is maintained by the store keeper
(C)
Entries are made by the store keeper
(D)
It is kept in the cost office
Question-8
Identify the merits of perpetual inventory system.
(A)
Discrepancies are detected easily and quickly
(B)
It is an expensive affair
(C)
It is suitable to bigger firms
(D)
Stock figure are not reliable
Question-9
____________are completed goods awaiting sale.
(A)
Raw materials
(B)
Goods in process
(C)
Work in process
(D)
Finished goods
Question-10
Identify the merits of perpetual inventory system:
(A)
It enables the store keeper to maintain stock with in limits
(B)
It is an expensive affair
(C)
It is suitable to bigger firms
(D)
Stock figure are not reliable
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Plus 2 Commerce
ICSE/ISC
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Cost Accounting An Introduction
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Sectional Balancing and Self Balancing System
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Cost Accounting Inventory Valuation
Cash Flow Statement
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