1719430
Description
Quiz by Demar Davidson, updated more than 1 year ago
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Created by Demar Davidson
over 9 years ago
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Question 1
Question
What is stock?
Answer
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Stock refers to goods or materials kept by an organisation in a special place called a warehouse or store or stock room.
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Stock refers to businesses that keep goods in return for incentives.
Question 2
Question
Internal requests from stock are called ?
Answer
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Deductions
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order
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Requisitions
Question 3
Question
What are orders?
Answer
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Request for customers from different countries.
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Request for money from customers.
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Request for supplies from customers.
Question 4
Question
To ensure what, a close check of stock must be maintained?
Answer
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Because the country is facing a recession employees can get food for their family.
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To ensure that sufficient quantity is always available when needed.
Question 5
Question
Whys is stock control important?
Answer
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To facilitate the owner of the business.
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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
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Stock purchased for resale.
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Stock sold for resale.
Question 13
Question
What are consumable stocks?
Answer
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Money that a company owns.
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The amount of cars that is owned by the company.
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Raw materials for manufacturing.
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