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Question-1
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-2
Which one is belongs to the bin card?
(A)
Postings are made before the transaction
(B)
Postings are made after the transaction
(C)
Entries are made periodically
(D)
It is kept in the cost office.
Question-3
Identify the merits of perpetual inventory system
(A)
It is an expensive affair
(B)
It is suitable to bigger firms
(C)
Stock figure are not reliable
(D)
It facilitates the preparation of final accounts, even at short notice.
Question-4
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-5
Which one of the following is belongs to the periodic inventory system?
(A)
It is based on physical stock taking
(B)
It is based on records
(C)
It provides the data on continuous basis
(D)
It provides basis for control
Question-6
Identify the perpetual inventory system
(A)
It is expensive. it is adopted by big concerns only
(B)
It is simple and economical method and can be adopted in small concern
(C)
It is based on physical stock taking
(D)
It provides data once in a year
Question-7
Identify the perpetual inventory system from the following
(A)
It is based on physical stock taking
(B)
It provides a data once in a year
(C)
It does not provide basis for control
(D)
It is based on records
Question-8
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
Question-9
Identify the demerits of periodic inventory system
(A)
It is lacks the element of surprise check
(B)
It is a cheaper method as permanent stock taking team is not required
(C)
It is suitable to small firms
(D)
Irregularities in stores are exposed
Question-10
The ledger which is maintained in stores of manufacturing organization mainly to record the inflow and outflow of material is known as ____________
(A)
Bin card
(B)
Purchase order
(C)
Stores ledger
(D)
Requisition note
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Plus 2 Commerce
ICSE/ISC
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Joint Stock Company Accounts: Issue of Debentures
Cost Accounting An Introduction
Joint Venture Account
Sectional Balancing and Self Balancing System
Ratio Analysis
Cost Accounting Inventory Valuation
Cash Flow Statement
Cost Accounting Cost Sheet
Cash Flow Statement
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