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CS Executive Practice Test: Inventory Management
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CS Executive Practice Test: Inventory Management
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25 Questions

1. A store ledger is a record of receipts, issues, and closing balances of material by entering
2. In an inflationary situation, which system of inventory valuation shows higher profits
3. _ account does not record the balance of stores ledger control account.
4. Which of the following is not correct for the calculation of the re-ordering level of inventory?
5. Which of the following is the objective of inventory management?
6. Which of the following method is based on the assumption that the costliest materials are issued first and inventory is valued at the lowest possible price
7. June 2017r When prices fluctuate widely, which of the following method will even out the effect of fluctuations?
8. In the technique of inventory control, quantities in the hand of each item or class of stock are reviewed periodically say 30, 45, or 60 days.
9. A, B, C analysis is
10. If annual total carrying cost, per unit carrying cost, and cost per order is 7 15,000, 7 10 & 7 150 respectively, then Economic Order Quantity will be:
11. V Ltd. is the manufacturer of picture tubes for TV, The following are details of their operation. Minimum usages 50 tubes per week, Maximum usages 200 tubes per week; Normal usages 100 tubes per week; lead time to supply 4-6 weeks; and Re-order quantity 400tubes. What would be the maximum and minimum level of stock?
12. During the time of inflation, the method of pricing of material issue which leads to a lower material cost for a job is:
13. Which of the following difference in material stock adjusted by considering as part of the material cost?
14. The technique of economic order quantity is losing significance since the development of
15. In case of rising prices, the FIFO method will provide –
16. The monthly requirement of a component is 4,000 units. The cost per order is ₹ 1,000 and the carrying cost per unit per annum is ₹ 24. The Economic Ordering Quantity is:
17. A written comprehensive order, with specification, material code, and quantity sent to inform the purchasing department, of a need for material is called
18. Two avoidable reasons for the difference between bin card and physical quantity of material may be and wrong posting in the bin card.
19. Dec 2015: FIFO method of valuing material issues is suitable in times of__
20. Smoke, dust, gases, and loss of weight due to seasoning are examples of
21. During the time of inflation, which method of pricing of material issues leads to higher material costs for a job?
22. Under which of the following inventory control technique, the maximum and minimum level of each stock is laid down
23. The method of regular physical verification of material throughout the year is known as
24. The following information is given: 10,0 units of material are consumed per year; per-unit cost is ₹ 20; cost of processing an order is ₹ 50; Annual interest rate is 5%; Annual carrying cost of material per unit is 15% (other than interest). What would be the Economic Order Quantity (EOQ)?
25. Bill of material acts as an authorization to the store’s department in procuring the material and all the materials listed on the bill is sent to the.

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