Demar Davidson
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Quiz on Stock Control, created by Demar Davidson on 28/11/2014.

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Demar Davidson
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Stock Control

Question 1 of 13

1

What is stock?

Select one of the following:

  • 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.

Explanation

Question 2 of 13

1

Internal requests from stock are called ?

Select one of the following:

  • Deductions

  • order

  • Requisitions

Explanation

Question 3 of 13

1

What are orders?

Select one of the following:

  • Request for customers from different countries.

  • Request for money from customers.

  • Request for supplies from customers.

Explanation

Question 4 of 13

1

To ensure what, a close check of stock must be maintained?

Select one of the following:

  • Because the country is facing a recession employees can get food for their family.

  • To ensure that sufficient quantity is always available when needed.

Explanation

Question 5 of 13

1

Whys is stock control important?

Select one of the following:

  • To facilitate the owner of the business.

  • Because it is used to support internal operations.

Explanation

Question 6 of 13

1

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.

Select one of the following:

  • True
  • False

Explanation

Question 7 of 13

1

Items such as Diamonds will need protection.

Select one of the following:

  • True
  • False

Explanation

Question 8 of 13

1

Stock is a current Liability of the business.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 13

1

Assets are things the business owes.

Select one of the following:

  • True
  • False

Explanation

Question 10 of 13

1

Liabilities are things the business owes.

Select one of the following:

  • True
  • False

Explanation

Question 11 of 13

1

All assets and liabilities are shown in a financial statement called a balance sheet.

Select one of the following:

  • True
  • False

Explanation

Question 12 of 13

1

What is stock in trade?

Select one or more of the following:

  • Stock purchased for resale.

  • Stock sold for resale.

Explanation

Question 13 of 13

1

What are consumable stocks?

Select one of the following:

  • Money that a company owns.

  • The amount of cars that is owned by the company.

  • Raw materials for manufacturing.

Explanation

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